StoneX Group Inc. Acquires New Shares in DTE Energy Company $DTE

StoneX Group Inc. acquired a new position in DTE Energy Company (NYSE:DTE) during the 3rd quarter, HoldingsChannel reports. The fund acquired 5,330 shares of the utilities provider’s stock, valued at approximately $677,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTE. BlackRock Inc. purchased a new position in shares of DTE Energy during the 2nd quarter valued at approximately $3,915,284,000. Jupiter Topco LLC acquired a new position in shares of DTE Energy in the 2nd quarter valued at $477,264,000. Janus Henderson Group PLC boosted its holdings in DTE Energy by 1.3% during the first quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock worth $451,022,000 after buying an additional 40,346 shares in the last quarter. Bank of America Corp DE purchased a new stake in DTE Energy during the second quarter worth $417,001,000. Finally, Soroban Capital Partners LP boosted its holdings in DTE Energy by 2.0% during the first quarter. Soroban Capital Partners LP now owns 2,038,473 shares of the utilities provider’s stock worth $298,066,000 after buying an additional 39,963 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. LADENBURG THALM/SH SH increased their target price on shares of DTE Energy from $135.50 to $144.50 and gave the stock a “buy” rating in a research note on Friday, November 6th. Weiss Ratings cut DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Finally, Barclays cut their price target on DTE Energy from $154.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.58.

Insider Transactions at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider directly owned 73,122 shares of the company’s stock, valued at $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

DTE Energy Trading Up 0.6%

Shares of DTE stock opened at $139.12 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.62 and a quick ratio of 0.40. The company has a market cap of $28.96 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.84 and a beta of 0.35. The stock has a 50 day simple moving average of $130.28 and a 200-day simple moving average of $140.87. DTE Energy Company has a 1-year low of $119.68 and a 1-year high of $155.74.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.17. DTE Energy had a return on equity of 12.17% and a net margin of 8.21%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm posted $2.01 EPS. On average, equities research analysts expect that DTE Energy Company will post 7.70 EPS for the current fiscal year.

DTE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, December 21st will be given a dividend of $1.2450 per share. This is a boost from DTE Energy’s previous quarterly dividend of $1.1650. This represents a $4.98 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, December 21st. DTE Energy’s dividend payout ratio (DPR) is currently 71.04%.

DTE Energy Company Profile

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state. The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.