R Squared Ltd Makes New Investment in DTE Energy Company $DTE

R Squared Ltd acquired a new position in DTE Energy Company (NYSE:DTE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,130 shares of the utilities provider’s stock, valued at approximately $747,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Bancorp Inc ME acquired a new position in DTE Energy during the 2nd quarter worth about $29,000. Community Bank N.A. bought a new stake in shares of DTE Energy in the 2nd quarter valued at about $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of DTE Energy in the 2nd quarter valued at about $35,000. Optiver Holding B.V. acquired a new stake in shares of DTE Energy in the first quarter valued at about $36,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of DTE Energy by 682.4% in the third quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock valued at $32,000 after buying an additional 232 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Ladenburg Thalmann & Co. Inc. upped their target price on DTE Energy from $135.50 to $144.50 and gave the company a “buy” rating in a report on Friday, November 6th. Barclays decreased their target price on shares of DTE Energy from $154.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Weiss Ratings lowered shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Morgan Stanley dropped their price target on shares of DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $148.58.

DTE Energy Stock Performance

DTE stock opened at $139.16 on Friday. The stock has a 50-day moving average price of $130.41 and a 200-day moving average price of $140.92. DTE Energy Company has a 1-year low of $119.68 and a 1-year high of $155.74. The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 1.97. The firm has a market cap of $28.97 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.35.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.17. DTE Energy had a return on equity of 12.17% and a net margin of 8.21%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the business earned $2.01 EPS. As a group, equities research analysts expect that DTE Energy Company will post 7.70 earnings per share for the current year.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, December 21st will be paid a $1.2450 dividend. This represents a $4.98 annualized dividend and a yield of 3.6%. This is a boost from DTE Energy’s previous quarterly dividend of $1.1650. The ex-dividend date of this dividend is Monday, December 21st. DTE Energy’s payout ratio is presently 71.04%.

Insider Transactions at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

DTE Energy Company Profile

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state. The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.