Cetera Investment Advisers Purchases 7,230 Shares of DTE Energy Company $DTE

Cetera Investment Advisers boosted its position in DTE Energy Company (NYSE:DTE) by 15.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 53,218 shares of the utilities provider’s stock after purchasing an additional 7,230 shares during the period. Cetera Investment Advisers’ holdings in DTE Energy were worth $7,781,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DTE. Laurel Wealth Advisors LLC acquired a new stake in DTE Energy during the 4th quarter worth about $25,000. Quest 10 Wealth Builders Inc. lifted its stake in shares of DTE Energy by 754.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 181 shares during the period. Torren Management LLC acquired a new position in shares of DTE Energy in the 4th quarter valued at about $26,000. Elyxium Wealth LLC bought a new stake in shares of DTE Energy during the 4th quarter valued at about $29,000. Finally, Key Financial Inc bought a new stake in shares of DTE Energy during the 1st quarter valued at about $29,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $141.94 on Friday. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The company has a market cap of $29.54 billion, a PE ratio of 22.46, a P/E/G ratio of 3.09 and a beta of 0.38. The stock has a 50-day moving average of $147.60 and a 200-day moving average of $144.78. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.69.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results 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 business had revenue of $6.74 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.36 EPS. On average, equities research analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is presently 73.73%.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the transaction, the vice president directly owned 6,233 shares in the company, valued at $895,806.76. This trade represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on DTE. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research note on Thursday, July 9th. Truist Financial cut their price target on DTE Energy from $165.00 to $158.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.