4,629 Shares in DTE Energy Company $DTE Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. purchased a new stake in shares of DTE Energy Company (NYSE:DTE) in the second quarter, HoldingsChannel reports. The institutional investor purchased 4,629 shares of the utilities provider’s stock, valued at approximately $705,000.

Several other institutional investors have also recently made changes to their positions in DTE. Empowered Funds LLC increased its position in DTE Energy by 200.7% in the first quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock worth $1,370,000 after buying an additional 6,614 shares in the last quarter. Woodline Partners LP lifted its position in shares of DTE Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after buying an additional 5,072 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of DTE Energy by 6.5% during the 1st quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after buying an additional 773 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of DTE Energy during the 2nd quarter valued at approximately $203,000. Finally, Jump Financial LLC grew its stake in shares of DTE Energy by 154.5% during the 2nd quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock valued at $1,679,000 after acquiring an additional 7,696 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.7%

NYSE DTE opened at $138.16 on Friday. The stock has a 50 day moving average price of $146.38 and a 200-day moving average price of $145.33. 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 quick ratio of 0.53 and a current ratio of 0.80. The company has a market capitalization of $28.75 billion, a P/E ratio of 21.86, a P/E/G ratio of 3.04 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced 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 firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.36 EPS. As a group, equities analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is 73.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a research report on Thursday, July 9th. Mizuho decreased their price objective on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.62.

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.