Legacy Capital Wealth Partners LLC Purchases New Position in DTE Energy Company (NYSE:DTE)

Legacy Capital Wealth Partners LLC purchased a new stake in DTE Energy Company (NYSE:DTE) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 1,495 shares of the utilities provider’s stock, valued at approximately $207,000.

A number of other hedge funds also recently modified their holdings of the business. Trust Investment Advisors purchased a new position in shares of DTE Energy in the first quarter valued at $223,000. Parcion Private Wealth LLC raised its stake in DTE Energy by 6.9% in the first quarter. Parcion Private Wealth LLC now owns 5,840 shares of the utilities provider’s stock worth $807,000 after buying an additional 376 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of DTE Energy by 2.4% during the first quarter. Tectonic Advisors LLC now owns 5,599 shares of the utilities provider’s stock valued at $774,000 after buying an additional 133 shares during the last quarter. Larson Financial Group LLC raised its position in shares of DTE Energy by 8.7% during the 1st quarter. Larson Financial Group LLC now owns 16,945 shares of the utilities provider’s stock worth $2,343,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its holdings in DTE Energy by 8.2% in the 1st quarter. Wealthfront Advisers LLC now owns 20,868 shares of the utilities provider’s stock valued at $2,885,000 after acquiring an additional 1,581 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.4%

DTE opened at $134.80 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. The company has a fifty day moving average of $133.92 and a 200-day moving average of $130.95. DTE Energy Company has a twelve month low of $115.48 and a twelve month high of $140.39. The stock has a market cap of $27.97 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.44.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, topping the consensus estimate of $1.98 by $0.12. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. During the same period in the previous year, the firm earned $1.67 earnings per share. On average, sell-side analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, September 15th. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday. Guggenheim raised 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. Barclays lifted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Morgan Stanley lowered their price target on DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Finally, Wells Fargo & Company upped their price target on DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

About DTE Energy

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.