Pallas Capital Advisors LLC Takes Position in DTE Energy Company $DTE

Pallas Capital Advisors LLC purchased a new stake in DTE Energy Company (NYSE:DTE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 40,962 shares of the utilities provider’s stock, valued at approximately $6,241,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in DTE Energy by 227.4% during the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after acquiring an additional 1,895,631 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of DTE Energy in the second quarter valued at about $170,977,000. Balyasny Asset Management L.P. purchased a new stake in shares of DTE Energy during the fourth quarter worth about $139,423,000. Cohen & Steers Inc. purchased a new stake in shares of DTE Energy during the fourth quarter worth about $125,604,000. Finally, Vanguard Group Inc. raised its position in shares of DTE Energy by 3.0% during 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 during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DTE shares. Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Mizuho cut their price objective on DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. BMO Capital Markets increased their target price on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.62.

DTE Energy Stock Performance

DTE opened at $140.99 on Tuesday. The firm has a market capitalization of $29.34 billion, a PE ratio of 22.31, a PEG ratio of 3.08 and a beta of 0.38. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The firm’s 50-day moving average price is $146.78 and its 200 day moving average price is $145.24. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

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 analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. As a group, sell-side analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

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.