Citizens Financial Group Inc. RI Acquires Shares of 4,204 DTE Energy Company $DTE

Citizens Financial Group Inc. RI acquired a new position in shares of DTE Energy Company (NYSE:DTE) during the second quarter, HoldingsChannel.com reports. The fund acquired 4,204 shares of the utilities provider’s stock, valued at approximately $641,000.

Several other institutional investors and hedge funds also recently modified their holdings of DTE. Oregon Public Employees Retirement Fund grew its stake in shares of DTE Energy by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after buying an additional 71 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after buying an additional 75 shares during the period. Segment Wealth Management LLC lifted its position in DTE Energy by 4.6% during the 4th quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock worth $225,000 after acquiring an additional 76 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in DTE Energy by 1.2% during the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after acquiring an additional 76 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in DTE Energy by 23.6% in the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTE. BMO Capital Markets increased their price objective on shares of DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Morgan Stanley reissued an “overweight” rating on shares of DTE Energy in a research report on Wednesday, July 22nd. Truist Financial decreased their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Mizuho lowered their price target on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Barclays dropped their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.62.

DTE Energy Trading Down 0.7%

Shares of DTE opened at $139.22 on Thursday. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The stock has a 50-day moving average price of $146.53 and a 200 day moving average price of $145.30. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The company has a market capitalization of $28.97 billion, a P/E ratio of 22.03, a P/E/G ratio of 3.06 and a beta of 0.38.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the business earned $1.36 EPS. Sell-side analysts forecast that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.3%. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.