Convergence Investment Partners LLC Buys New Stake in DTE Energy Company $DTE

Convergence Investment Partners LLC purchased a new position in DTE Energy Company (NYSE:DTE) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 21,490 shares of the utilities provider’s stock, valued at approximately $3,142,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its stake 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 purchasing an additional 71 shares in the last quarter. Whittier Trust Co. grew 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 in the last quarter. Segment Wealth Management LLC grew its position in DTE Energy by 4.6% in the 4th quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock valued at $225,000 after buying an additional 76 shares in the last quarter. Prosperity Consulting Group LLC increased its stake in DTE Energy by 1.2% during 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 period. Finally, HM Payson & Co. increased 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 buying an additional 80 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DTE shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. Bank of America restated a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. Mizuho set a $165.00 price target on DTE Energy in a research note on Friday, May 1st. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Finally, Truist Financial lowered their target price on DTE Energy from $165.00 to $158.00 and set a “buy” rating on the stock in a report on Monday, May 18th. One equities research 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 company’s stock. According to data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $158.69.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the completion of the sale, the vice president owned 6,233 shares in the company, valued at $895,806.76. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

DTE Energy Stock Performance

Shares of DTE opened at $145.91 on Tuesday. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The company has a 50-day moving average of $147.07 and a two-hundred day moving average of $143.85. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 3.24 and a beta of 0.38. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.95 and a quick ratio of 0.69.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.37 billion. DTE Energy had a net margin of 7.65% and a return on equity of 12.37%. During the same quarter in the prior year, the firm earned $2.10 EPS. DTE Energy has set its FY 2026 guidance at 7.590-7.730 EPS. On average, equities research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders 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 yield of 3.2%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s payout ratio is 76.77%.

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.