Resona Asset Management Co. Ltd. Cuts Stock Holdings in DTE Energy Company $DTE

Resona Asset Management Co. Ltd. lowered its holdings in DTE Energy Company (NYSE:DTE) by 5.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 67,650 shares of the utilities provider’s stock after selling 3,813 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in DTE Energy were worth $9,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. Vanguard Group Inc. increased its holdings in DTE Energy by 4.2% during the second quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider’s stock valued at $3,439,307,000 after buying an additional 1,042,589 shares during the period. Raymond James Financial Inc. boosted its position in DTE Energy by 176.5% during the 2nd quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider’s stock valued at $134,474,000 after acquiring an additional 648,007 shares in the last quarter. State Street Corp increased its holdings in shares of DTE Energy by 2.2% in the 2nd quarter. State Street Corp now owns 10,558,531 shares of the utilities provider’s stock valued at $1,409,833,000 after acquiring an additional 222,353 shares during the period. Panagora Asset Management Inc. raised its position in shares of DTE Energy by 18.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,186,434 shares of the utilities provider’s stock worth $157,155,000 after acquiring an additional 187,875 shares in the last quarter. Finally, Amundi lifted its stake in shares of DTE Energy by 60.0% during the 2nd quarter. Amundi now owns 459,672 shares of the utilities provider’s stock worth $60,070,000 after purchasing an additional 172,363 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DTE. UBS Group cut their target price on DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Scotiabank cut their price objective on shares of DTE Energy from $147.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. BMO Capital Markets reduced their price objective on shares of DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a research note on Wednesday, December 24th. Mizuho raised their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $142.00 price target on shares of DTE Energy in a research report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $147.38.

DTE Energy Stock Up 0.9%

DTE stock opened at $135.57 on Tuesday. The stock has a market capitalization of $28.16 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. DTE Energy Company has a 52 week low of $117.56 and a 52 week high of $143.79. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 2.01. The firm has a 50 day moving average of $132.01 and a 200 day moving average of $136.10.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, October 30th. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.15. DTE Energy had a net margin of 9.34% and a return on equity of 12.63%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the company posted $2.22 earnings per share. DTE Energy has set its FY 2025 guidance at 7.090-7.230 EPS and its FY 2026 guidance at 7.590-7.730 EPS. Sell-side analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were paid a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, December 15th. This is a boost from DTE Energy’s previous quarterly dividend of $1.09. DTE Energy’s dividend payout ratio (DPR) is presently 69.97%.

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.