Kingsview Wealth Management LLC Makes New $1.33 Million Investment in DTE Energy Company $DTE

Kingsview Wealth Management LLC bought a new position in DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,738 shares of the utilities provider’s stock, valued at approximately $1,331,000.

A number of other institutional investors also recently modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new stake in shares of DTE Energy during the fourth quarter worth $25,000. Torren Management LLC purchased a new stake in DTE Energy during the 4th quarter worth about $26,000. Elyxium Wealth LLC purchased a new stake in DTE Energy during the 4th quarter worth about $29,000. Key Financial Inc bought a new position in DTE Energy in the 1st quarter worth about $29,000. Finally, First Bancorp Inc ME bought a new position in DTE Energy in the 2nd quarter worth about $29,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE stock opened at $135.75 on Friday. The firm has a 50 day simple moving average of $144.97 and a two-hundred day simple moving average of $145.30. The stock has a market cap of $28.25 billion, a PE ratio of 21.48, a P/E/G ratio of 2.95 and a beta of 0.38. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. 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 (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the company posted $1.36 EPS. On average, analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. 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 73.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DTE shares. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. Morgan Stanley cut their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. BMO Capital Markets reduced their price objective on shares of DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a research note on Friday. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Finally, Mizuho lowered their target price on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday. 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. Based on data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average 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.