Sanctuary Advisors LLC Invests $4.21 Million in DTE Energy Company $DTE

Sanctuary Advisors 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 27,617 shares of the utilities provider’s stock, valued at approximately $4,208,000.

A number of other large investors also recently modified their holdings of DTE. Vanguard Group Inc. boosted its stake in DTE Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after buying an additional 766,499 shares in the last quarter. BlackRock Inc. purchased a new position in shares of DTE Energy during the second quarter worth approximately $3,915,284,000. Capital Research Global Investors raised its stake in shares of DTE Energy by 3.1% during the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock worth $1,605,539,000 after acquiring an additional 379,443 shares in the last quarter. State Street Corp lifted its holdings in shares of DTE Energy by 2.5% in the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock worth $1,441,776,000 after acquiring an additional 272,068 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of DTE Energy by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after acquiring an additional 117,322 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.4%

Shares of DTE Energy stock opened at $136.16 on Wednesday. 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 Company has a 52-week low of $126.23 and a 52-week high of $155.74. The company’s 50 day moving average price is $145.63 and its 200-day moving average price is $145.35. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.95 and a beta of 0.38.

DTE Energy (NYSE:DTE) last posted 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 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 period in the prior year, the business posted $1.36 EPS. Equities research analysts forecast that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. This represents a $4.66 annualized dividend 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 73.73%.

Analysts Set New Price Targets

Several research firms recently commented on DTE. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. Truist Financial cut their price target 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. Barclays reduced their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.46.

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.