Perigon Wealth Management LLC Invests $637,000 in DTE Energy Company $DTE

Perigon Wealth Management LLC acquired a new stake in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 4,179 shares of the utilities provider’s stock, valued at approximately $637,000.

A number of other large investors also recently modified their holdings of DTE. Empowered Funds LLC grew its position in DTE Energy by 200.7% during the first quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock valued at $1,370,000 after acquiring an additional 6,614 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of DTE Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock worth $2,421,000 after acquiring an additional 5,072 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of DTE Energy by 6.5% in the 1st quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock worth $1,754,000 after acquiring an additional 773 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of DTE Energy in the 2nd quarter valued at $203,000. Finally, Jump Financial LLC boosted its stake in shares of DTE Energy by 154.5% in the 2nd quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock valued at $1,679,000 after purchasing an additional 7,696 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $139.22 on Thursday. 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 company has a market cap of $28.97 billion, a PE ratio of 22.03, a P/E/G ratio of 3.06 and a beta of 0.38. The business has a 50 day moving average of $146.53 and a 200 day moving average of $145.30. DTE Energy Company has a 52 week low of $126.23 and a 52 week 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, topping analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter last year, the firm posted $1.36 earnings per share. As a group, equities research analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently announced 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. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DTE shares. BMO Capital Markets lifted their target price on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research note on Thursday, July 9th. Finally, Truist Financial decreased their price objective on DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.62.

DTE Energy Company Profile

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.