NewEdge Wealth LLC Makes New Investment in DTE Energy Company $DTE

NewEdge Wealth LLC purchased a new stake in shares of DTE Energy Company (NYSE:DTE) during the second quarter, HoldingsChannel reports. The fund purchased 5,666 shares of the utilities provider’s stock, valued at approximately $863,000.

Several other large investors have also made changes to their positions in DTE. Empowered Funds LLC lifted its holdings in DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock worth $1,370,000 after purchasing an additional 6,614 shares in the last quarter. Woodline Partners LP grew its holdings in DTE Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after buying an additional 5,072 shares in the last quarter. Intech Investment Management LLC grew its holdings in DTE Energy by 6.5% during the 1st quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after buying an additional 773 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of DTE Energy during the second quarter valued at approximately $203,000. Finally, Jump Financial LLC raised its position in shares of DTE Energy by 154.5% during the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock valued at $1,679,000 after buying an additional 7,696 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Down 2.1%

NYSE DTE opened at $135.28 on Friday. The stock has a 50 day moving average price of $146.13 and a 200-day moving average price of $145.26. 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 quick ratio of 0.53 and a current ratio of 0.80. The company has a market capitalization of $28.15 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.00 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the business posted $1.36 earnings per share. As a group, equities analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy’s payout ratio is 73.73%.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research reports. Barclays dropped their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Morgan Stanley reduced their price target on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets boosted their price target on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. TD Cowen began coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company. Finally, Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

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.