Ieq Capital LLC Buys Shares of 115,133 DTE Energy Company $DTE

Ieq Capital LLC purchased a new stake in DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 115,133 shares of the utilities provider’s stock, valued at approximately $17,543,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DTE. Vanguard Group Inc. lifted its position in shares of DTE Energy by 3.0% during the 4th 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 during the last quarter. BlackRock Inc. bought a new position in DTE Energy in the second quarter valued at about $3,915,284,000. Capital Research Global Investors grew its position in DTE Energy by 3.1% in the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock valued at $1,605,539,000 after acquiring an additional 379,443 shares during the last quarter. State Street Corp raised its stake in DTE Energy by 2.5% during the fourth 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in DTE Energy by 2.1% during the fourth 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 in the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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. BMO Capital Markets upped their price objective on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price objective on shares of DTE Energy in a research report on Monday, June 15th. Wall Street Zen downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Price Performance

Shares of DTE opened at $135.28 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock has a market cap of $28.15 billion, a PE ratio of 21.41, a PEG ratio of 2.94 and a beta of 0.38. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The business has a 50-day simple moving average of $146.13 and a two-hundred day simple moving average of $145.26.

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. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the firm posted $1.36 earnings per share. Analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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

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.