Fifth Third Wealth Advisors LLC Takes Position in DTE Energy (NYSE:DTE)

Fifth Third Wealth Advisors LLC purchased a new position in DTE Energy (NYSE:DTE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,951 shares of the utilities provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of DTE Energy in the 4th quarter valued at approximately $6,606,000. Federated Hermes Inc. boosted its stake in DTE Energy by 27.0% during the 4th quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 234 shares during the last quarter. abrdn plc grew its holdings in DTE Energy by 1.2% during the 4th quarter. abrdn plc now owns 47,902 shares of the utilities provider’s stock worth $5,282,000 after acquiring an additional 570 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of DTE Energy by 149.5% in the 4th quarter. Lindbrook Capital LLC now owns 968 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 580 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of DTE Energy by 16.0% in the 4th quarter. Signaturefd LLC now owns 2,924 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the subject of a number of research reports. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Scotiabank boosted their price target on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays increased their target price on shares of DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley decreased their price target on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.91.

Insider Transactions at DTE Energy

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $123.34 on Friday. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66. The stock’s fifty day moving average is $115.87 and its 200-day moving average is $112.35. DTE Energy has a one year low of $90.14 and a one year high of $126.76. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

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

DTE Energy Announces Dividend

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

About DTE Energy

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.