WNY Asset Management LLC Makes New Investment in DTE Energy Company $DTE

WNY Asset Management LLC bought a new stake in shares of DTE Energy Company (NYSE:DTE) in the first quarter, HoldingsChannel reports. The institutional investor bought 14,119 shares of the utilities provider’s stock, valued at approximately $2,064,000.

Several other hedge funds have also made changes to their positions in DTE. Oregon Public Employees Retirement Fund grew its position in shares of DTE Energy by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock worth $3,481,000 after buying an additional 71 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of DTE Energy by 3.5% in the first quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 75 shares in the last quarter. Segment Wealth Management LLC raised its holdings in shares of DTE Energy by 4.6% in the fourth quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 76 shares in the last quarter. Prosperity Consulting Group LLC lifted its stake in DTE Energy by 1.2% in the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after acquiring an additional 76 shares during the period. Finally, HM Payson & Co. increased its position in DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 80 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE stock opened at $141.94 on Friday. The stock’s 50-day moving average is $147.60 and its 200 day moving average is $144.78. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.69. The company has a market cap of $29.54 billion, a P/E ratio of 22.46, a PEG ratio of 3.09 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the previous year, the company posted $1.36 earnings per share. Research analysts predict that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.3%. DTE Energy’s payout ratio is presently 73.73%.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total transaction of $143,720.00. Following the completion of the transaction, the vice president owned 6,233 shares in the company, valued at $895,806.76. The trade was a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on DTE. Truist Financial reduced their price target on shares of DTE Energy from $165.00 to $158.00 and set a “buy” rating for the company in a report on Monday, May 18th. Morgan Stanley reiterated an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. TD Cowen assumed coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective on the stock. Bank of America reissued a “buy” rating on shares of DTE Energy in a research note on Wednesday, April 22nd. Finally, Mizuho reduced their price objective on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.