WNY Asset Management LLC Purchases New Shares in DTE Energy Company $DTE

WNY Asset Management LLC acquired a new stake in DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,124 shares of the utilities provider’s stock, valued at approximately $2,152,000.

A number of other large investors have also modified their holdings of DTE. Oregon Public Employees Retirement Fund grew its position in shares of DTE Energy by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after acquiring an additional 71 shares during the period. Whittier Trust Co. raised its holdings in DTE Energy by 3.5% in the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock worth $328,000 after purchasing an additional 75 shares during the period. Prosperity Consulting Group LLC raised its holdings in DTE Energy by 1.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after purchasing an additional 76 shares during the period. HM Payson & Co. raised its holdings in DTE Energy by 23.6% in the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 80 shares during the period. Finally, Fifth Third Bancorp boosted its position in DTE Energy by 1.1% during the fourth quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider’s stock worth $1,000,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE Energy stock opened at $136.11 on Friday. The company has a fifty day simple moving average of $145.21 and a 200-day simple moving average of $145.37. The firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.99 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 52-week low of $126.23 and a 52-week high of $155.74.

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 the consensus estimate of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period last year, the firm posted $1.36 earnings per share. On average, equities analysts anticipate that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is 73.73%.

Analysts Set New Price Targets

Several brokerages have commented on DTE. Morgan Stanley dropped their price objective on DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Mizuho decreased their target price on DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research report on Thursday. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. Finally, Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.54.

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.