6,173 Shares in DTE Energy Company $DTE Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,173 shares of the utilities provider’s stock, valued at approximately $941,000.

A number of other large investors also recently bought and sold shares of DTE. Oregon Public Employees Retirement Fund grew its stake in shares of DTE Energy by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock worth $3,481,000 after purchasing an additional 71 shares during the period. Whittier Trust Co. lifted its stake in shares of DTE Energy by 3.5% in the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 75 shares during the period. Segment Wealth Management LLC lifted its stake in shares of DTE Energy by 4.6% in the 4th quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 76 shares during the period. Prosperity Consulting Group LLC boosted its holdings in DTE Energy by 1.2% during the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after buying an additional 76 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in DTE Energy by 23.6% during the fourth quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock worth $54,000 after buying an additional 80 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE Energy stock opened at $135.28 on Friday. The stock 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. The company’s fifty day moving average price is $146.13 and its 200 day moving average price is $145.26. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during 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 period in the prior year, the business posted $1.36 earnings per share. As a group, equities research analysts anticipate that DTE Energy Company will post 7.71 earnings per share 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. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio is 73.73%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DTE. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a report on Monday, June 15th. Barclays lowered their target price 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. Mizuho dropped their target price on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. TD Cowen assumed coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target for the company. Finally, Jefferies Financial Group set a $172.00 price target on DTE Energy in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and a consensus target price 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.