Merit Financial Group LLC Has $917,000 Stake in DTE Energy (NYSE:DTE)

Merit Financial Group LLC lifted its stake in DTE Energy (NYSE:DTE) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,629 shares of the utilities provider’s stock after purchasing an additional 1,486 shares during the period. Merit Financial Group LLC’s holdings in DTE Energy were worth $917,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Mattson Financial Services LLC acquired a new stake in shares of DTE Energy in the 4th quarter valued at $38,000. Kestra Investment Management LLC acquired a new position in shares of DTE Energy during the fourth quarter valued at $57,000. Colonial Trust Co SC boosted its holdings in DTE Energy by 1,266.7% in the fourth quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 608 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in DTE Energy in the fourth quarter worth about $87,000. Finally, Catalyst Capital Advisors LLC bought a new stake in DTE Energy during the 4th quarter worth about $88,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of recent research reports. Evercore ISI boosted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley dropped their target price on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. BMO Capital Markets lifted their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research note on Monday, April 21st. Finally, Guggenheim increased their target price on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus price target of $140.93.

DTE Energy Stock Up 0.9%

DTE Energy stock opened at $133.85 on Monday. The company has a 50 day moving average of $134.57 and a 200-day moving average of $128.90. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a twelve month low of $108.40 and a twelve month high of $140.39. The stock has a market capitalization of $27.78 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the business earned $1.67 EPS. On average, equities research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.26%. DTE Energy’s payout ratio is presently 58.92%.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.