Canada Pension Plan Investment Board Makes New Investment in DTE Energy Company $DTE

Canada Pension Plan Investment Board bought a new position in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, Holdings Channel reports. The firm bought 244,514 shares of the utilities provider’s stock, valued at approximately $37,257,000.

Other hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of DTE Energy by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock worth $3,481,000 after acquiring an additional 71 shares in the last quarter. Whittier Trust Co. increased its stake in DTE Energy by 3.5% in the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 75 shares in the last quarter. Prosperity Consulting Group LLC raised its holdings in DTE Energy by 1.2% during the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock worth $927,000 after purchasing an additional 76 shares during the last quarter. HM Payson & Co. raised its holdings in DTE Energy by 23.6% during the fourth quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 80 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in DTE Energy by 1.1% during the fourth quarter. Fifth Third Bancorp now owns 7,755 shares of the utilities provider’s stock worth $1,000,000 after purchasing an additional 87 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DTE. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. BMO Capital Markets lifted their price target on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Barclays decreased their price objective on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Truist Financial lowered their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.54.

DTE Energy Price Performance

DTE stock opened at $136.11 on Friday. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The stock’s 50 day moving average price is $145.21 and its 200 day moving average price is $145.37. The firm has a market cap of $28.32 billion, a P/E ratio of 21.54, a PEG ratio of 2.99 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the prior year, the firm earned $1.36 EPS. On average, sell-side analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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

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.