United Capital Financial Advisors LLC Makes New Investment in DTE Energy Company $DTE

United Capital Financial Advisors LLC acquired a new stake in shares of 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 fund acquired 8,557 shares of the utilities provider’s stock, valued at approximately $1,304,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Convergence Investment Partners LLC bought a new position in DTE Energy during the 1st quarter worth about $3,142,000. Louisiana State Employees Retirement System bought a new stake in shares of DTE Energy in the first quarter valued at about $1,550,000. OMERS ADMINISTRATION Corp acquired a new position in shares of DTE Energy during the second quarter worth about $2,236,000. Capital Innovations LLC acquired a new position in shares of DTE Energy during the fourth quarter worth about $1,014,000. Finally, Teilinger Capital Ltd. bought a new position in shares of DTE Energy during the fourth quarter worth about $30,955,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on DTE. BMO Capital Markets cut their target price on DTE Energy from $150.00 to $143.00 and set a “market perform” rating on the stock in a research note on Friday. Morgan Stanley cut their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. TD Cowen began coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 target price for the company. Truist Financial lowered 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 note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One 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 stock. According to data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $157.00.

DTE Energy Trading Down 0.4%

NYSE DTE opened at $135.75 on Friday. The company has a market cap of $28.25 billion, a PE ratio of 21.48, a PEG ratio of 2.95 and a beta of 0.38. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74. The stock has a 50 day moving average of $144.97 and a 200-day moving average of $145.30.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the company earned $1.36 earnings per share. On average, equities research analysts anticipate that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

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