Gallagher Fiduciary Advisors LLC Buys New Shares in DTE Energy Company $DTE

Gallagher Fiduciary Advisors LLC bought a new position in shares of DTE Energy Company (NYSE:DTE) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 4,092 shares of the utilities provider’s stock, valued at approximately $624,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in DTE Energy by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after acquiring an additional 71 shares during the last quarter. Whittier Trust Co. increased its stake in shares of DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock worth $328,000 after purchasing an additional 75 shares during the last quarter. Prosperity Consulting Group LLC raised its holdings in shares of DTE Energy by 1.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after purchasing an additional 76 shares during the period. HM Payson & Co. raised its holdings in shares of DTE Energy by 23.6% in 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. Finally, Fifth Third Bancorp lifted its stake in DTE Energy by 1.1% in the 4th quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider’s stock valued at $1,000,000 after purchasing an additional 87 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Up 0.4%

Shares of DTE opened at $136.16 on Wednesday. The firm has a market cap of $28.33 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. 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 52 week low of $126.23 and a 52 week high of $155.74. The firm’s 50-day simple moving average is $145.63 and its 200 day simple moving average is $145.35.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the business posted $1.36 earnings per share. On average, analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

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. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DTE. Morgan Stanley reduced their price target on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a report on Friday. TD Cowen started coverage on DTE Energy in a research report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective for the company. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group set a $172.00 target price on DTE Energy in a report on Thursday, July 9th. Finally, BMO Capital Markets increased their price target on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus price target 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.