1,665 Shares in DTE Energy (NYSE:DTE) Bought by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC acquired a new position in shares of DTE Energy (NYSE:DTE) during the first quarter, HoldingsChannel reports. The firm acquired 1,665 shares of the utilities provider’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTE. Vanguard Group Inc. grew its position in DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. Capital World Investors grew its position in DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock valued at $823,905,000 after purchasing an additional 3,766,221 shares in the last quarter. Geode Capital Management LLC grew its position in DTE Energy by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider’s stock valued at $592,642,000 after purchasing an additional 115,270 shares in the last quarter. Boston Partners grew its position in DTE Energy by 25.1% in the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider’s stock valued at $350,150,000 after purchasing an additional 582,643 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in DTE Energy by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider’s stock valued at $329,988,000 after purchasing an additional 12,554 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE DTE opened at $134.80 on Wednesday. The firm has a 50-day moving average of $134.39 and a 200-day moving average of $129.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market cap of $27.97 billion, a PE ratio of 19.91, a P/E/G ratio of 2.41 and a beta of 0.45. DTE Energy has a 52-week low of $108.40 and a 52-week high of $140.39.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter last year, the company posted $1.67 EPS. On average, sell-side analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s dividend payout ratio is presently 58.92%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DTE shares. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Citigroup reaffirmed a “buy” rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Evercore ISI raised their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Morgan Stanley decreased 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. Finally, BMO Capital Markets lifted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.93.

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.