The Manufacturers Life Insurance Company Buys Shares of 403,274 DTE Energy Company $DTE

The Manufacturers Life Insurance Company purchased a new stake in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 403,274 shares of the utilities provider’s stock, valued at approximately $61,447,000.

Other large investors have also modified their holdings of the company. Empowered Funds LLC boosted its stake in DTE Energy by 200.7% during the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock valued at $1,370,000 after purchasing an additional 6,614 shares during the period. Woodline Partners LP increased its stake in shares of DTE Energy by 40.8% in the first quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after purchasing an additional 5,072 shares during the period. Intech Investment Management LLC increased its stake in shares of DTE Energy by 6.5% in the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after purchasing an additional 773 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of DTE Energy during the second quarter valued at approximately $203,000. Finally, Jump Financial LLC raised its holdings in shares of DTE Energy by 154.5% during the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock valued at $1,679,000 after buying an additional 7,696 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BMO Capital Markets increased their price objective on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Morgan Stanley reduced their price target on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research report on Friday. Barclays decreased their price target on 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. Finally, Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Price Performance

NYSE:DTE opened at $136.16 on Wednesday. The business’s 50-day moving average price is $145.63 and its 200 day moving average price is $145.35. The firm has a market cap of $28.33 billion, a P/E ratio of 21.54, a PEG ratio of 2.95 and a beta of 0.38. DTE Energy Company has a 52-week low of $126.23 and a 52-week high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 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 for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the company earned $1.36 EPS. As a group, sell-side analysts predict that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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

DTE Energy 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.