Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in DTE Energy Company $DTE

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of DTE Energy Company (NYSE:DTE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 505,009 shares of the utilities provider’s stock, valued at approximately $76,948,000.

Other hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in shares of DTE Energy in the 4th quarter worth about $25,000. Quest 10 Wealth Builders Inc. lifted its position in shares of DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 181 shares during the last quarter. Torren Management LLC bought a new position in shares of DTE Energy during the fourth quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in DTE Energy in the fourth quarter worth about $29,000. Finally, Key Financial Inc acquired a new position in DTE Energy in the first quarter worth about $29,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DTE has been the subject of several research analyst reports. Bank of America reissued a “buy” rating on shares of DTE Energy in a report on Wednesday, April 22nd. Barclays decreased their target price on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target for the company. Truist Financial dropped their price target on DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Finally, Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.62.

DTE Energy Price Performance

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

DTE Energy (NYSE:DTE) last issued its 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. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, sell-side analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. DTE Energy’s dividend payout ratio (DPR) is 73.73%.

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.