PensionDanmark Pensionsforsikringsaktieselskab Boosts Stock Position in DTE Energy Company $DTE

PensionDanmark Pensionsforsikringsaktieselskab boosted its position in DTE Energy Company (NYSE:DTE) by 11.7% in the second quarter, HoldingsChannel.com reports. The firm owned 56,540 shares of the utilities provider’s stock after acquiring an additional 5,900 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in DTE Energy were worth $8,615,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund grew its position in shares of DTE Energy by 0.3% in the 1st 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 during the last quarter. Whittier Trust Co. raised its stake in shares of DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 75 shares in the last quarter. Segment Wealth Management LLC lifted its position in DTE Energy by 4.6% during the fourth quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 76 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in DTE Energy by 1.2% during the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after acquiring an additional 76 shares during the last quarter. Finally, HM Payson & Co. lifted its position in DTE Energy by 23.6% during the fourth 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. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DTE. Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. Jefferies Financial Group set a $172.00 price target on DTE Energy in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Truist Financial cut their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a research report on Monday, June 15th. One investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.62.

DTE Energy Stock Performance

Shares of DTE stock opened at $140.00 on Friday. The business has a fifty day moving average of $147.23 and a 200 day moving average of $145.03. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. 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 firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 3.06 and a beta of 0.38.

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, beating the consensus estimate 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 quarter in the previous year, the business earned $1.36 EPS. As a group, research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The firm 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 dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, September 21st. DTE Energy’s payout ratio is presently 73.73%.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total value of $143,720.00. Following the sale, the vice president directly owned 6,233 shares of the company’s stock, valued at $895,806.76. This represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

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.