61,925 Shares in DTE Energy Company $DTE Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 61,925 shares of the utilities provider’s stock, valued at approximately $9,436,000.

A number of other hedge funds also recently bought and sold shares of DTE. BlackRock Inc. bought a new position in DTE Energy in the 2nd quarter worth approximately $3,915,284,000. Jupiter Topco LLC bought a new position in DTE Energy during the second quarter worth $477,264,000. Bank of America Corp DE bought a new position in DTE Energy during the second quarter worth $417,001,000. Millennium Management LLC raised its stake in DTE Energy by 227.4% during the 4th 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. Finally, Legal & General Group Plc bought a new stake in DTE Energy in the 2nd quarter valued at $199,563,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

NYSE:DTE opened at $135.75 on Tuesday. The firm has a market capitalization of $28.25 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The firm has a 50-day moving average price of $144.75 and a 200 day moving average price of $145.36.

DTE Energy (NYSE:DTE) last released 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. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the business earned $1.36 earnings per share. Research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid 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 payout ratio is currently 73.73%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DTE. Mizuho dropped their price objective on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a report on Thursday. 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. Wall Street Zen downgraded DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research report on Thursday, July 9th. Finally, Morgan Stanley reduced their target price on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

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.