Commerzbank Aktiengesellschaft FI Purchases New Holdings in DTE Energy Company $DTE

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,867 shares of the utilities provider’s stock, valued at approximately $1,351,000.

A number of other hedge funds also recently added to or reduced their stakes in DTE. Laurel Wealth Advisors LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $25,000. Key Financial Inc purchased a new stake in shares of DTE Energy during the first quarter worth approximately $29,000. Torren Management LLC acquired a new stake in shares of DTE Energy during the fourth quarter worth $26,000. Quest 10 Wealth Builders Inc. lifted its holdings in shares of DTE Energy by 754.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 181 shares during the period. Finally, Elyxium Wealth LLC purchased a new position in DTE Energy in the 4th quarter valued at $29,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Down 0.5%

DTE Energy stock opened at $140.42 on Wednesday. The stock’s 50 day moving average price is $146.68 and its 200 day moving average price is $145.26. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a market cap of $29.22 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. 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 released 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 return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, sell-side analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.3%. DTE Energy’s dividend payout ratio is 73.73%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DTE. Bank of America reissued a “buy” rating on shares of DTE Energy in a research note on Wednesday, April 22nd. TD Cowen began coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price for the company. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Barclays dropped 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 research note on Monday, May 4th. Finally, Truist Financial cut their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $158.62.

DTE Energy Company 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.