Equitable Holdings Inc. Invests $1.03 Million in DTE Energy Company $DTE

Equitable Holdings Inc. purchased a new position in shares of DTE Energy Company (NYSE:DTE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,775 shares of the utilities provider’s stock, valued at approximately $1,032,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. First Bancorp Inc ME purchased a new stake in DTE Energy during the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at approximately $25,000. Key Financial Inc purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $29,000. Torren Management LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $26,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of DTE Energy during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DTE shares. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price objective on shares of DTE Energy in a research report on Monday, June 15th. Barclays reduced their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Morgan Stanley lowered their target price on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Finally, Truist Financial cut their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. One equities research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

DTE Energy Stock Down 0.4%

DTE Energy stock opened at $135.75 on Friday. The stock’s 50 day moving average price is $144.97 and its 200 day moving average price is $145.30. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a market cap of $28.25 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.96 and a beta of 0.38. 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 (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, sell-side analysts predict 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. Stockholders of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

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.