Evolve Private Wealth LLC Purchases New Position in DTE Energy Company $DTE

Evolve Private Wealth LLC purchased a new position in DTE Energy Company (NYSE:DTE) in the second quarter, Holdings Channel reports. The institutional investor purchased 6,051 shares of the utilities provider’s stock, valued at approximately $928,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new position in shares of DTE Energy in the second quarter valued at approximately $589,000. Korea Investment CORP purchased a new stake in shares of DTE Energy during the 2nd quarter valued at $6,942,000. EP Wealth Advisors LLC purchased a new stake in DTE Energy during the second quarter valued at about $4,395,000. M1 Capital Management LLC bought a new stake in DTE Energy in the 2nd quarter worth approximately $1,213,000. Finally, Ieq Capital LLC bought a new stake in shares of DTE Energy in the 2nd quarter worth approximately $17,543,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. TD Cowen assumed coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Barclays reduced their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Trading Up 0.0%

DTE Energy stock opened at $135.28 on Monday. The business’s fifty day moving average is $146.13 and its 200 day moving average is $145.34. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The stock has a market capitalization of $28.15 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion for 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 in the prior year, the firm earned $1.36 earnings per share. On average, sell-side analysts predict that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

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

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.