Pallas Capital Advisors LLC Acquires New Position in DTE Energy Company $DTE

Pallas Capital Advisors LLC bought a new position in DTE Energy Company (NYSE:DTE) in the second quarter, according to its most recent filing with the SEC. The firm bought 40,962 shares of the utilities provider’s stock, valued at approximately $6,241,000.

Several other large investors also recently bought and sold shares of DTE. Laurel Wealth Advisors LLC purchased a new position in shares of DTE Energy in the fourth quarter worth $25,000. Key Financial Inc acquired a new position in shares of DTE Energy in the 1st quarter valued at $29,000. Torren Management LLC purchased a new position in DTE Energy in the 4th quarter worth $26,000. Quest 10 Wealth Builders Inc. raised its stake in DTE Energy by 754.2% in the 4th 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 during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in DTE Energy during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of research reports. Mizuho cut their price objective on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. BMO Capital Markets upped their target price on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Barclays cut their price target on shares of 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 shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.62.

DTE Energy Stock Up 0.1%

DTE Energy stock opened at $140.99 on Tuesday. The business’s 50-day moving average price is $146.78 and its 200 day moving average price is $145.24. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The firm has a market cap of $29.34 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74.

DTE Energy (NYSE:DTE) last announced 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 during the quarter, compared to the consensus estimate 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. As a group, sell-side analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

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