Saudi Central Bank Grows Holdings in DTE Energy Company $DTE

Saudi Central Bank lifted its stake in DTE Energy Company (NYSE:DTE) by 90.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,562 shares of the utilities provider’s stock after acquiring an additional 6,896 shares during the quarter. Saudi Central Bank’s holdings in DTE Energy were worth $2,219,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Bancorp Inc ME purchased a new stake in DTE Energy in the second quarter valued at approximately $29,000. Key Financial Inc purchased a new position in shares of DTE Energy during the first quarter worth $29,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy in the fourth quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of DTE Energy in the second quarter valued at $35,000. Finally, Optiver Holding B.V. purchased a new stake in shares of DTE Energy in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of DTE Energy stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the transaction, the insider owned 73,122 shares in the company, valued at $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. BMO Capital Markets dropped their target price on DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a research report on Friday, August 28th. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Mizuho reduced their price target on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research report on Thursday, August 27th. Finally, Truist Financial lowered their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

DTE Energy Trading Down 0.1%

DTE opened at $135.88 on Tuesday. The business has a fifty day moving average price of $143.12 and a 200 day moving average price of $145.12. 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 Company has a 12 month low of $126.23 and a 12 month high of $155.74. The stock has a market capitalization of $28.28 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.96 and a beta of 0.37.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (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 quarter last year, the company earned $1.36 EPS. Sell-side analysts expect that DTE Energy Company will post 7.71 earnings per share 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. Investors of record on Monday, September 21st will be issued a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy’s dividend payout ratio (DPR) is 73.73%.

DTE Energy 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.