Hsbc Holdings PLC Buys New Stake in DTE Energy Company $DTE

Hsbc Holdings PLC bought a new stake in DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 739,633 shares of the utilities provider’s stock, valued at approximately $112,913,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of DTE Energy during the second quarter valued at about $3,915,284,000. Millennium Management LLC boosted its holdings in DTE Energy by 227.4% in the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock valued at $352,016,000 after purchasing an additional 1,895,631 shares during the last quarter. Legal & General Group Plc acquired a new stake in DTE Energy during the 2nd quarter valued at approximately $199,563,000. Bank of New York Mellon Corp acquired a new position in shares of DTE Energy in the 2nd quarter valued at approximately $170,977,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of DTE Energy in the 4th quarter valued at approximately $139,423,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Up 0.4%

DTE Energy stock opened at $136.16 on Wednesday. The firm’s 50-day moving average is $145.63 and its 200-day moving average is $145.35. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company has a market cap of $28.33 billion, a P/E ratio of 21.54, a PEG ratio of 2.95 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating 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 quarter in the prior year, the firm earned $1.36 EPS. On average, equities analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. DTE Energy’s payout ratio is currently 73.73%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays decreased their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Truist Financial decreased their price target on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. One equities research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.46.

About DTE Energy

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.