DTE Energy Company $DTE Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in DTE Energy Company (NYSE:DTE) by 33.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,185 shares of the utilities provider’s stock after buying an additional 6,285 shares during the quarter. Kestra Advisory Services LLC’s holdings in DTE Energy were worth $3,068,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of DTE Energy in the 2nd quarter valued at approximately $3,915,284,000. Jupiter Topco LLC purchased a new position in DTE Energy during the 2nd quarter worth approximately $477,264,000. Bank of America Corp DE purchased a new position in DTE Energy during the 2nd quarter worth approximately $417,001,000. Legal & General Group Plc purchased a new position in DTE Energy during the 2nd quarter worth approximately $199,563,000. Finally, Bank of New York Mellon Corp acquired a new stake in DTE Energy during the 2nd quarter valued at $170,977,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets increased their target price on DTE Energy from $134.00 to $139.00 and gave the company a “market perform” rating in a report on Friday, October 16th. Truist Financial set a $139.00 price target on DTE Energy in a report on Friday, October 16th. Jefferies Financial Group set a $152.00 price target on DTE Energy in a research report on Friday, October 23rd. Mizuho reduced their price objective on DTE Energy from $152.00 to $136.00 and set an “outperform” rating for the company in a research note on Monday, September 28th. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $148.58.

DTE Energy Stock Up 0.4%

DTE Energy stock traded up $0.49 during trading hours on Friday, hitting $139.69. The company had a trading volume of 1,064,745 shares, compared to its average volume of 1,450,221. The firm has a market capitalization of $29.08 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 2.86 and a beta of 0.35. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.62 and a quick ratio of 0.40. The firm’s fifty day moving average is $130.47 and its 200-day moving average is $140.93. DTE Energy Company has a fifty-two week low of $119.68 and a fifty-two week high of $155.74.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.17. DTE Energy had a net margin of 8.21% and a return on equity of 12.17%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the business posted $2.01 EPS. On average, research analysts forecast that DTE Energy Company will post 7.70 earnings per share for the current year.

DTE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, December 21st will be issued a dividend of $1.2450 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $1.1650. This represents a $4.98 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, December 21st. DTE Energy’s dividend payout ratio is 71.04%.

Insider Transactions at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of DTE Energy stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

About DTE Energy

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state. The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.