Meiji Yasuda Asset Management Co Ltd. Makes New Investment in DTE Energy Company $DTE

Meiji Yasuda Asset Management Co Ltd. acquired a new position in DTE Energy Company (NYSE:DTE) in the 2nd quarter, HoldingsChannel reports. The firm acquired 23,613 shares of the utilities provider’s stock, valued at approximately $3,598,000.

Other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in shares of DTE Energy by 0.3% during 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 during the last quarter. Whittier Trust Co. raised its position in DTE Energy by 3.5% in 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 last quarter. Prosperity Consulting Group LLC raised its position in DTE Energy by 1.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after buying an additional 76 shares during the last quarter. HM Payson & Co. lifted its stake in DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 80 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in DTE Energy by 1.1% during the 4th quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider’s stock valued at $1,000,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.4%

NYSE DTE opened at $135.71 on Tuesday. The stock has a market capitalization of $28.24 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.94 and a beta of 0.38. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The business’s fifty day moving average is $145.89 and its 200-day moving average is $145.34.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the prior year, the business earned $1.36 earnings per share. Equities research analysts predict that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

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 dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is currently 73.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DTE shares. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. BMO Capital Markets boosted their price target on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Morgan Stanley reduced their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Barclays decreased their price objective on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy 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.