Daiichi Life Insurance Co. Ltd. Acquires Shares of 13,449 DTE Energy Company $DTE

Daiichi Life Insurance Co. Ltd. bought a new position in DTE Energy Company (NYSE:DTE) during the second quarter, Holdings Channel.com reports. The institutional investor bought 13,449 shares of the utilities provider’s stock, valued at approximately $2,049,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of DTE Energy in the second quarter valued at approximately $3,915,284,000. Millennium Management LLC grew its holdings in DTE Energy by 227.4% in the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock valued at $352,016,000 after buying an additional 1,895,631 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of DTE Energy in the 2nd quarter worth $170,977,000. Balyasny Asset Management L.P. acquired a new stake in shares of DTE Energy in the 4th quarter worth $139,423,000. Finally, Cohen & Steers Inc. purchased a new position in shares of DTE Energy during the 4th quarter worth $125,604,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Barclays dropped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Trading Up 0.0%

Shares of NYSE DTE opened at $135.28 on Monday. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock has a fifty day simple moving average of $146.13 and a 200-day simple moving average of $145.34. The stock has a market capitalization of $28.15 billion, a PE ratio of 21.41, a PEG ratio of 2.94 and a beta of 0.38.

DTE Energy (NYSE:DTE) last posted its earnings results 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 for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company earned $1.36 EPS. On average, equities analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

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

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.