Dockside LLC Invests $1.59 Million in DTE Energy Company $DTE

Dockside LLC bought a new stake in DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,424 shares of the utilities provider’s stock, valued at approximately $1,588,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DTE. Northside Capital Management LLC boosted its position in DTE Energy by 0.5% in the second quarter. Northside Capital Management LLC now owns 26,047 shares of the utilities provider’s stock worth $3,969,000 after purchasing an additional 121 shares during the last quarter. Tema ETFs LLC increased its position in shares of DTE Energy by 8.6% during the 2nd quarter. Tema ETFs LLC now owns 3,679 shares of the utilities provider’s stock valued at $561,000 after purchasing an additional 290 shares during the last quarter. William Mack & Associates Inc. raised its stake in shares of DTE Energy by 34.8% during the 2nd quarter. William Mack & Associates Inc. now owns 4,615 shares of the utilities provider’s stock worth $703,000 after purchasing an additional 1,192 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of DTE Energy by 4.8% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 5,538 shares of the utilities provider’s stock worth $844,000 after purchasing an additional 253 shares during the period. Finally, Revolve Wealth Partners LLC boosted its holdings in shares of DTE Energy by 8.7% in the 2nd quarter. Revolve Wealth Partners LLC now owns 1,519 shares of the utilities provider’s stock worth $231,000 after buying an additional 121 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE opened at $140.84 on Friday. The company has a market capitalization of $29.31 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 3.05 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The firm has a 50-day moving average price of $146.83 and a 200-day moving average price of $145.14. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the prior year, the company posted $1.36 EPS. Equities analysts expect that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on DTE shares. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a research report on Thursday, July 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. Truist Financial reduced 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 report on Tuesday, August 4th. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.62.

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.