Summit Global Investments Invests $4.43 Million in DTE Energy Company $DTE

Summit Global Investments bought a new position in shares of DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,060 shares of the utilities provider’s stock, valued at approximately $4,428,000.

Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC bought a new stake in DTE Energy in the 4th quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 181 shares during the last quarter. Torren Management LLC bought a new position in shares of DTE Energy during the 4th quarter valued at about $26,000. Elyxium Wealth LLC purchased a new position in shares of DTE Energy during the fourth quarter valued at about $29,000. Finally, Key Financial Inc purchased a new position in shares of DTE Energy during the first quarter valued at about $29,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DTE has been the topic of a number of research analyst reports. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. BMO Capital Markets increased their price target on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Morgan Stanley restated an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a research note on Thursday, July 9th. Finally, Barclays decreased their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.62.

DTE Energy Stock Performance

DTE Energy stock opened at $140.84 on Friday. The company’s 50-day moving average price is $146.83 and its 200-day moving average price is $145.14. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The company has a market cap of $29.31 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 3.05 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) 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 period in the prior year, the company earned $1.36 EPS. On average, equities research analysts forecast that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.3%. DTE Energy’s dividend payout ratio is 73.73%.

About DTE Energy

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.