7,940 Shares in DTE Energy Company $DTE Acquired by Greenland Capital Management LP

Greenland Capital Management LP acquired a new stake in shares of DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,940 shares of the utilities provider’s stock, valued at approximately $1,210,000.

Other large investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new position in shares of DTE Energy in the 4th quarter valued at $25,000. Key Financial Inc acquired a new stake in DTE Energy during the 1st quarter worth $29,000. Torren Management LLC acquired a new stake in DTE Energy during the 4th quarter worth $26,000. Quest 10 Wealth Builders Inc. lifted its holdings in DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 181 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in DTE Energy during the fourth quarter worth about $29,000. Institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen started coverage on DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target for the company. Barclays cut their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. increased their target price on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Mizuho dropped their target price on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Stock Performance

DTE opened at $135.28 on Friday. The business’s 50-day moving average price is $146.13 and its two-hundred day moving average price is $145.26. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company has a market capitalization of $28.15 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.94 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

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

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy’s payout ratio is presently 73.73%.

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.