Energy Income Partners LLC Takes $81.44 Million Position in DTE Energy Company $DTE

Energy Income Partners LLC purchased a new position in DTE Energy Company (NYSE:DTE) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 534,462 shares of the utilities provider’s stock, valued at approximately $81,436,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in DTE Energy during the fourth quarter valued at approximately $25,000. Key Financial Inc acquired a new position in shares of DTE Energy in the 1st quarter worth approximately $29,000. Torren Management LLC bought a new position in shares of DTE Energy during the 4th quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. lifted its position in shares of DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after buying an additional 181 shares during the period. Finally, Elyxium Wealth LLC acquired a new stake in DTE Energy in the 4th quarter valued at $29,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE stock opened at $140.42 on Wednesday. The stock has a market cap of $29.22 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. The stock has a 50-day moving average of $146.68 and a 200-day moving average of $145.26. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the firm earned $1.36 EPS. As a group, sell-side analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Bank of America restated a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a report on Monday, June 15th. Finally, Truist Financial reduced their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.62.

About DTE Energy

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.