Saudi Central Bank Increases Holdings in DTE Energy Company $DTE

Saudi Central Bank raised its holdings in shares of DTE Energy Company (NYSE:DTE) by 90.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,562 shares of the utilities provider’s stock after acquiring an additional 6,896 shares during the quarter. Saudi Central Bank’s holdings in DTE Energy were worth $2,219,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in DTE Energy by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock worth $3,481,000 after buying an additional 71 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of DTE Energy by 3.5% in the first quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after buying an additional 75 shares in the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of DTE Energy by 1.2% in the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after buying an additional 76 shares in the last quarter. HM Payson & Co. lifted its position in shares of DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 80 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its position in shares of DTE Energy by 3.6% during the 1st quarter. MeadowBrook Investment Advisors LLC now owns 2,504 shares of the utilities provider’s stock valued at $366,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Down 0.1%

NYSE DTE opened at $135.88 on Tuesday. The firm’s 50 day moving average price is $143.12 and its two-hundred day moving average price is $145.12. 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 twelve month low of $126.23 and a twelve month high of $155.74. The stock has a market cap of $28.28 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.96 and a beta of 0.37.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the prior year, the company earned $1.36 earnings per share. Equities analysts anticipate that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is currently 73.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTE. BMO Capital Markets decreased their target price on DTE Energy from $150.00 to $143.00 and set a “market perform” rating on the stock in a report on Friday, August 28th. Truist Financial reduced their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a research note on Thursday, July 9th. Finally, Wall Street Zen downgraded 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 assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Insider Buying and Selling

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

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.