Rakuten Investment Management Inc. Buys New Shares in DTE Energy Company $DTE

Rakuten Investment Management Inc. purchased a new position in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, Holdings Channel reports. The firm purchased 34,026 shares of the utilities provider’s stock, valued at approximately $5,241,000.

A number of other large investors also recently bought and sold shares of DTE. Oregon Public Employees Retirement Fund boosted its holdings in shares of DTE Energy by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after purchasing an additional 71 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock worth $328,000 after buying an additional 75 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of DTE Energy by 1.2% during the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after buying an additional 76 shares during the last quarter. HM Payson & Co. increased its holdings in shares of DTE Energy by 23.6% during the 4th quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock worth $54,000 after buying an additional 80 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of DTE Energy by 1.1% in the 4th quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider’s stock worth $1,000,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE stock opened at $135.75 on Friday. 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 company has a market cap of $28.25 billion, a PE ratio of 21.48, a P/E/G ratio of 2.95 and a beta of 0.38. The company’s fifty day simple moving average is $144.97 and its 200-day simple moving average is $145.30. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping 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 firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities research analysts anticipate that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. 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 currently 73.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DTE shares. Mizuho reduced their target price on DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays dropped 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. Jefferies Financial Group set a $172.00 price objective on DTE Energy in a report on Thursday, July 9th. TD Cowen began coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One investment 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’s stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

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.