Wealthfront Advisers LLC Acquires New Position in DTE Energy Company $DTE

Wealthfront Advisers LLC bought a new stake in DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 35,856 shares of the utilities provider’s stock, valued at approximately $5,463,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in shares of DTE Energy in the fourth quarter valued at $25,000. Quest 10 Wealth Builders Inc. increased its stake in DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 181 shares during the period. Torren Management LLC acquired a new position in DTE Energy in the fourth quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy during the 4th quarter worth about $29,000. Finally, Key Financial Inc bought a new position in shares of DTE Energy in the first quarter valued at about $29,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Price Performance

Shares of NYSE DTE opened at $138.16 on Friday. The firm 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. 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 Company has a twelve month low of $126.23 and a twelve month high of $155.74. The stock’s 50-day simple moving average is $146.38 and its two-hundred day simple moving average is $145.33.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $1.36 earnings per share. As a group, equities analysts anticipate 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. 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 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

Analyst Ratings Changes

A number of analysts recently weighed in on DTE shares. Truist Financial cut their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Morgan Stanley restated an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Barclays dropped their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.62.

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.