Level Four Advisory Services LLC bought a new position in shares of DTE Energy Co (NYSE:DTE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,940 shares of the utilities provider’s stock, valued at approximately $204,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Watson Rebecca acquired a new stake in shares of DTE Energy in the second quarter worth $32,000. Citizens Financial Group Inc RI boosted its stake in shares of DTE Energy by 401.1% during the first quarter. Citizens Financial Group Inc RI now owns 436 shares of the utilities provider’s stock worth $42,000 after buying an additional 349 shares during the period. Trust Co. of Vermont increased its position in DTE Energy by 852.4% in the 2nd quarter. Trust Co. of Vermont now owns 400 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 358 shares during the period. Lindbrook Capital LLC lifted its position in DTE Energy by 61.5% during the 2nd quarter. Lindbrook Capital LLC now owns 520 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 198 shares during the period. Finally, Royal Fund Management LLC acquired a new position in shares of DTE Energy in the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Shares of DTE opened at $119.95 on Wednesday. DTE Energy Co has a 12-month low of $71.21 and a 12-month high of $135.67. The stock has a market cap of $22.84 billion, a P/E ratio of 18.73, a PEG ratio of 3.13 and a beta of 0.59. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average of $117.36 and a two-hundred day moving average of $107.45.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.22. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.90 billion. DTE Energy had a return on equity of 10.50% and a net margin of 10.13%. During the same period in the previous year, the firm posted $0.99 EPS. As a group, analysts forecast that DTE Energy Co will post 6.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid a $1.013 dividend. This represents a $4.05 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, September 18th. DTE Energy’s payout ratio is 64.29%.
A number of equities analysts have commented on DTE shares. BMO Capital Markets assumed coverage on shares of DTE Energy in a research report on Thursday, July 9th. They set an “outperform” rating and a $116.00 price objective for the company. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Tuesday, June 9th. Bank of America lowered their price objective on DTE Energy from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, July 13th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley increased their price objective on DTE Energy from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. DTE Energy currently has a consensus rating of “Buy” and a consensus price target of $126.86.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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