9,133 Shares in DTE Energy Company $DTE Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new stake in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 9,133 shares of the utilities provider’s stock, valued at approximately $1,402,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC grew its stake in DTE Energy by 200.7% in the first 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 increased its holdings in shares of DTE Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after acquiring an additional 5,072 shares during the last quarter. Intech Investment Management LLC raised its position in shares of 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 acquiring an additional 773 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of DTE Energy during the 2nd quarter valued at approximately $203,000. Finally, Jump Financial LLC lifted its stake in DTE Energy by 154.5% during the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock worth $1,679,000 after purchasing an additional 7,696 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE:DTE opened at $135.28 on Monday. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The company has a 50-day moving average of $146.13 and a 200-day moving average of $145.34. The firm has a market cap of $28.15 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period in the previous year, the firm posted $1.36 EPS. Analysts forecast that DTE Energy Company will post 7.71 earnings per share 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 paid a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio is currently 73.73%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Truist Financial decreased their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Barclays lowered their target price on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently 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.