OneDigital Investment Advisors LLC Makes New $585,000 Investment in DTE Energy Company $DTE

OneDigital Investment Advisors LLC bought a new position in shares of DTE Energy Company (NYSE:DTE) in the second quarter, HoldingsChannel reports. The firm bought 3,842 shares of the utilities provider’s stock, valued at approximately $585,000.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC grew its holdings in DTE Energy by 227.4% during the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after acquiring an additional 1,895,631 shares during the period. Bank of New York Mellon Corp purchased a new position in DTE Energy in the second quarter worth $170,977,000. Balyasny Asset Management L.P. acquired a new stake in DTE Energy in the fourth quarter valued at $139,423,000. Cohen & Steers Inc. acquired a new stake in DTE Energy in the fourth quarter valued at $125,604,000. Finally, Vanguard Group Inc. boosted its position in shares of DTE Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after purchasing an additional 766,499 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DTE shares. Truist Financial lowered their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research note on Thursday, July 9th. Bank of America reissued a “buy” rating on shares of DTE Energy in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.62.

DTE Energy Stock Performance

Shares of DTE opened at $140.42 on Wednesday. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company’s 50 day simple moving average is $146.68 and its 200 day simple moving average is $145.26. The company has a market capitalization of $29.22 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 3.08 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18. The firm had revenue of $6.74 billion during 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 previous year, the company earned $1.36 EPS. On average, sell-side analysts predict that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a $1.165 dividend. 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 payout ratio is currently 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.