DTE Energy (NYSE:DTE) Shares Purchased by Stonebrook Private Inc.

Stonebrook Private Inc. raised its stake in DTE Energy (NYSE:DTE) by 29.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,953 shares of the utilities provider’s stock after purchasing an additional 899 shares during the period. Stonebrook Private Inc.’s holdings in DTE Energy were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. ESL Trust Services LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at $27,000. Rise Advisors LLC boosted its stake in DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 129 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of DTE Energy during the second quarter worth about $31,000. Denali Advisors LLC acquired a new stake in shares of DTE Energy during the first quarter worth about $34,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DTE shares. Scotiabank raised their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets raised their target price on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday. Barclays lifted their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, KeyCorp lifted their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.92.

DTE Energy Price Performance

Shares of DTE traded down $0.47 during mid-day trading on Friday, hitting $123.19. The company’s stock had a trading volume of 1,709,129 shares, compared to its average volume of 1,075,220. The firm has a 50-day simple moving average of $118.84 and a 200 day simple moving average of $113.80. The firm has a market capitalization of $25.49 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company posted $0.99 EPS. Analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.31%. DTE Energy’s payout ratio is 66.78%.

DTE Energy Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.