Farther Finance Advisors LLC Boosts Stock Position in DTE Energy (NYSE:DTE)

Farther Finance Advisors LLC increased its holdings in DTE Energy (NYSE:DTE) by 52.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,271 shares of the utilities provider’s stock after purchasing an additional 1,473 shares during the period. Farther Finance Advisors LLC’s holdings in DTE Energy were worth $589,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DTE. Empowered Funds LLC grew its position in DTE Energy by 8.8% in the fourth quarter. Empowered Funds LLC now owns 3,295 shares of the utilities provider’s stock worth $398,000 after acquiring an additional 267 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of DTE Energy by 26.0% in the 4th quarter. Stephens Inc. AR now owns 4,474 shares of the utilities provider’s stock valued at $540,000 after purchasing an additional 923 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of DTE Energy by 46.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 6,871 shares of the utilities provider’s stock worth $830,000 after purchasing an additional 2,195 shares during the period. Savant Capital LLC increased its position in shares of DTE Energy by 37.4% during the 4th quarter. Savant Capital LLC now owns 7,426 shares of the utilities provider’s stock valued at $897,000 after purchasing an additional 2,021 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in DTE Energy by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 201,714 shares of the utilities provider’s stock valued at $24,357,000 after buying an additional 1,179 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Down 0.7%

DTE opened at $135.11 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The stock’s fifty day moving average is $134.77 and its two-hundred day moving average is $129.20. The company has a market capitalization of $28.04 billion, a P/E ratio of 19.96, a PEG ratio of 2.41 and a beta of 0.45. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm posted $1.67 earnings per share. Analysts forecast that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. DTE Energy’s dividend payout ratio is presently 58.92%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Evercore ISI lifted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Guggenheim raised their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.93.

DTE Energy Company 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.