Man Group plc Buys New Shares in DTE Energy Company $DTE

Man Group plc purchased a new stake in shares of DTE Energy Company (NYSE:DTE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 33,925 shares of the utilities provider’s stock, valued at approximately $5,169,000.

Other large investors have also recently bought and sold shares of the company. First Bancorp Inc ME bought a new position in shares of DTE Energy in the 2nd quarter worth about $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of DTE Energy during the 4th quarter valued at about $25,000. Key Financial Inc acquired a new stake in DTE Energy during the first quarter worth approximately $29,000. Elyxium Wealth LLC acquired a new stake in DTE Energy during the fourth quarter worth approximately $29,000. Finally, N.E.W. Advisory Services LLC bought a new stake in DTE Energy in the second quarter worth approximately $35,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Down 0.1%

Shares of NYSE:DTE opened at $135.75 on Monday. 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 52-week low of $126.23 and a 52-week high of $155.74. The business’s 50 day simple moving average is $144.97 and its two-hundred day simple moving average is $145.37. The firm has a market cap of $28.25 billion, a P/E ratio of 21.48, a PEG ratio of 2.95 and a beta of 0.38.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, research analysts forecast that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s payout ratio is 73.73%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays dropped their price target on 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. JPMorgan Chase & Co. lifted their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a research report on Thursday, July 9th. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Mizuho reduced their price target on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and an average target price of $157.00.

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.