Deutsche Bank AG Invests $100 Million in DTE Energy Company $DTE

Deutsche Bank AG purchased a new stake in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, Holdings Channel reports. The fund purchased 656,277 shares of the utilities provider’s stock, valued at approximately $99,997,000.

Several other hedge funds have also added to or reduced their stakes in DTE. Vanguard Group Inc. grew its position in shares of DTE Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after buying an additional 766,499 shares during the period. Capital Research Global Investors increased its position in shares of DTE Energy by 3.1% in the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock valued at $1,605,539,000 after buying an additional 379,443 shares in the last quarter. State Street Corp raised its stake in DTE Energy by 2.5% during the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock worth $1,441,776,000 after buying an additional 272,068 shares during the period. Geode Capital Management LLC raised its stake in DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after buying an additional 117,322 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of DTE Energy by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock valued at $451,022,000 after purchasing an additional 40,346 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 0.7%

Shares of DTE opened at $138.16 on Friday. The firm has a market cap of $28.75 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 3.04 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The firm’s 50-day simple moving average is $146.38 and its 200 day simple moving average is $145.33.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the business posted $1.36 earnings per share. On average, analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DTE shares. TD Cowen began coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price objective on the stock. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Truist Financial decreased their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. BMO Capital Markets upped their target price on shares of DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Finally, Mizuho reduced their price target on DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $158.62.

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.