My Legacy Advisors LLC Takes $481,000 Position in DTE Energy (NYSE:DTE)

My Legacy Advisors LLC purchased a new stake in shares of DTE Energy (NYSE:DTE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,330 shares of the utilities provider’s stock, valued at approximately $481,000.

A number of other hedge funds also recently modified their holdings of DTE. International Assets Investment Management LLC purchased a new stake in shares of DTE Energy during the 4th quarter valued at approximately $6,606,000. SVB Wealth LLC purchased a new position in shares of DTE Energy in the fourth quarter valued at $220,000. Daiwa Securities Group Inc. raised its stake in shares of DTE Energy by 6.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 18,414 shares of the utilities provider’s stock valued at $2,030,000 after purchasing an additional 1,058 shares during the period. Federated Hermes Inc. lifted its holdings in DTE Energy by 27.0% during the 4th quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 234 shares in the last quarter. Finally, abrdn plc boosted its stake in DTE Energy by 1.2% in the 4th quarter. abrdn plc now owns 47,902 shares of the utilities provider’s stock worth $5,282,000 after purchasing an additional 570 shares during the period. Institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now owns 4,271 shares of the company’s stock, valued at $498,041.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Morgan Stanley increased their price target on shares of DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday. Barclays boosted their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, BMO Capital Markets upped their price objective on shares of DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $122.82.

DTE Energy Stock Up 0.3 %

Shares of DTE traded up $0.36 during trading hours on Friday, hitting $123.70. The company had a trading volume of 134,353 shares, compared to its average volume of 1,080,403. DTE Energy has a 52-week low of $90.14 and a 52-week high of $126.76. The firm has a fifty day moving average price of $115.87 and a 200-day moving average price of $112.35. The stock has a market capitalization of $25.60 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 2.27 and a beta of 0.66. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter last year, the company posted $0.99 earnings per share. On average, equities research analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is 66.78%.

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.