Oxbow Advisors LLC Buys Shares of 24,890 DTE Energy Company $DTE

Oxbow Advisors LLC bought a new position in DTE Energy Company (NYSE:DTE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 24,890 shares of the utilities provider’s stock, valued at approximately $3,793,000.

Other hedge funds also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of DTE Energy in the 4th quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its holdings in DTE Energy by 754.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 181 shares in the last quarter. Torren Management LLC acquired a new position in DTE Energy during the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new position in DTE Energy during the fourth quarter worth $29,000. Finally, Key Financial Inc bought a new position in DTE Energy during the first quarter valued at about $29,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $140.42 on Wednesday. The company has a market capitalization of $29.22 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The company’s fifty day moving average price is $146.68 and its 200 day moving average price is $145.26.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the prior year, the company earned $1.36 earnings per share. As a group, analysts expect that DTE Energy Company will post 7.71 earnings per share for the current 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 paid a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.3%. DTE Energy’s dividend payout ratio is presently 73.73%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DTE. Barclays reduced their price target on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. BMO Capital Markets increased their price objective on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Morgan Stanley reissued an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Truist Financial reduced their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Bank of America reaffirmed a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.62.

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.