Gallagher Fiduciary Advisors LLC Acquires New Shares in DTE Energy Company $DTE

Gallagher Fiduciary Advisors LLC acquired a new position in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,092 shares of the utilities provider’s stock, valued at approximately $624,000.

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

DTE Energy Stock Performance

Shares of DTE opened at $136.16 on Wednesday. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.95 and a beta of 0.38. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74. The firm has a fifty day simple moving average of $145.63 and a 200 day simple moving average of $145.35. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the business earned $1.36 EPS. Research analysts forecast that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. DTE Energy’s payout ratio is currently 73.73%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Morgan Stanley cut their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday. BMO Capital Markets increased their target price on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Mizuho cut their price target on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Weiss Ratings raised DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

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.