Korea Investment CORP Purchases Shares of 45,560 DTE Energy Company $DTE

Korea Investment CORP purchased a new position in DTE Energy Company (NYSE:DTE) in the second quarter, Holdings Channel reports. The fund purchased 45,560 shares of the utilities provider’s stock, valued at approximately $6,942,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock valued at $1,370,000 after acquiring an additional 6,614 shares during the period. Woodline Partners LP raised its position in DTE Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after purchasing an additional 5,072 shares during the last quarter. Intech Investment Management LLC boosted its stake in DTE Energy by 6.5% during the 1st quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock worth $1,754,000 after purchasing an additional 773 shares during the period. Sivia Capital Partners LLC acquired a new stake in DTE Energy during the 2nd quarter worth $203,000. Finally, Jump Financial LLC grew its position in DTE Energy by 154.5% during the 2nd quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock worth $1,679,000 after purchasing an additional 7,696 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.4%

Shares of DTE Energy stock opened at $135.71 on Tuesday. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock has a market cap of $28.24 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38. The company has a 50-day moving average of $145.89 and a two-hundred day moving average of $145.34.

DTE Energy (NYSE:DTE) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, research analysts anticipate that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid 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 payout ratio is presently 73.73%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DTE. Truist Financial reduced their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a research report on Thursday, July 9th. Mizuho decreased their price objective on DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, Morgan Stanley decreased their price objective on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

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.