360,720 Shares in DTE Energy Company $DTE Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new position in DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 360,720 shares of the utilities provider’s stock, valued at approximately $54,963,000. Freestone Grove Partners LP owned approximately 0.17% of DTE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of DTE Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after purchasing an additional 766,499 shares in the last quarter. BlackRock Inc. bought a new stake in DTE Energy during the 2nd quarter valued at $3,915,284,000. Capital Research Global Investors increased its stake in DTE Energy by 3.1% during the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock valued at $1,605,539,000 after purchasing an additional 379,443 shares in the last quarter. State Street Corp raised its holdings in DTE Energy by 2.5% during the fourth quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock worth $1,441,776,000 after buying an additional 272,068 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in DTE Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after buying an additional 117,322 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE opened at $137.61 on Thursday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The company has a market capitalization of $28.64 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 2.96 and a beta of 0.38. The firm’s fifty day moving average price is $145.44 and its two-hundred day moving average price is $145.36. 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 earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the prior year, the business posted $1.36 EPS. As a group, analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company 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 $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is presently 73.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a report on Friday, August 21st. Truist Financial lowered their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Barclays dropped their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and an average target price of $158.46.

DTE Energy 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.