DTE Energy (NYSE:DTE) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in DTE Energy (NYSE:DTE) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,053 shares of the utilities provider’s stock after purchasing an additional 879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DTE Energy were worth $2,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Signaturefd LLC grew its position in shares of DTE Energy by 16.0% in the fourth quarter. Signaturefd LLC now owns 2,924 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 403 shares during the period. Lindbrook Capital LLC grew its position in shares of DTE Energy by 149.5% in the fourth quarter. Lindbrook Capital LLC now owns 968 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 580 shares during the period. abrdn plc grew its position in shares of DTE Energy by 1.2% in the fourth quarter. abrdn plc now owns 47,902 shares of the utilities provider’s stock valued at $5,282,000 after purchasing an additional 570 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of DTE Energy in the fourth quarter valued at $115,000. Finally, Federated Hermes Inc. grew its position in shares of DTE Energy by 27.0% in the fourth quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $111.55 on Thursday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The firm has a market cap of $23.08 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.74 and a beta of 0.64. The stock has a 50-day simple moving average of $109.05 and a 200-day simple moving average of $106.02.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the firm earned $1.31 earnings per share. On average, equities analysts predict that DTE Energy will post 6.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.66%. DTE Energy’s dividend payout ratio (DPR) is currently 60.36%.

Insider Activity at DTE Energy

In related news, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $743,200.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $743,200.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joann Chavez sold 6,070 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the completion of the transaction, the senior vice president now directly owns 16,667 shares of the company’s stock, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,095 shares of company stock valued at $2,168,183. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. BMO Capital Markets lifted their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Morgan Stanley upped their price target on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a research note on Monday, January 22nd. Finally, TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.10.

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.