Advance Capital Management Inc. Increases Position in DTE Energy (NYSE:DTE)

Advance Capital Management Inc. grew its holdings in DTE Energy (NYSE:DTE) by 3.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,649 shares of the utilities provider’s stock after acquiring an additional 168 shares during the quarter. Advance Capital Management Inc.’s holdings in DTE Energy were worth $643,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allworth Financial LP increased its stake in shares of DTE Energy by 16.0% during the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp increased its stake in shares of DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 2,642 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of DTE Energy by 39.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock worth $693,000 after acquiring an additional 1,618 shares during the period. M&T Bank Corp increased its stake in shares of DTE Energy by 4.4% during the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock worth $1,139,000 after acquiring an additional 395 shares during the period. Finally, Truist Financial Corp increased its stake in shares of DTE Energy by 2.0% during the fourth quarter. Truist Financial Corp now owns 12,027 shares of the utilities provider’s stock worth $1,452,000 after acquiring an additional 240 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Morgan Stanley dropped their price target on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Guggenheim boosted their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. Finally, Evercore ISI boosted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Stock Up 0.3%

DTE stock opened at $136.67 on Friday. The company has a market cap of $28.36 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.41 and a beta of 0.47. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39. The company’s 50-day moving average price is $134.80 and its 200 day moving average price is $128.39. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter in the previous year, the firm earned $1.67 earnings per share. On average, research analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

DTE Energy Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.