DTE Energy (NYSE:DTE) Sets New 12-Month High – Here’s What Happened

DTE Energy Company (NYSE:DTE)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $143.94 and last traded at $144.0760, with a volume of 263729 shares. The stock had previously closed at $140.91.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. UBS Group dropped their target price on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Bank of America raised their price target on DTE Energy from $153.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wells Fargo & Company lowered their price objective on DTE Energy from $157.00 to $152.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. cut their target price on DTE Energy from $151.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, December 11th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.69.

DTE Energy Trading Up 2.8%

The company has a debt-to-equity ratio of 2.01, a current ratio of 1.15 and a quick ratio of 0.68. The stock has a 50-day moving average price of $132.57 and a two-hundred day moving average price of $136.12. The stock has a market cap of $30.09 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, March 16th. DTE Energy’s payout ratio is currently 69.97%.

Hedge Funds Weigh In On DTE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of DTE Energy by 200.7% in the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock valued at $1,370,000 after acquiring an additional 6,614 shares during the last quarter. Woodline Partners LP raised its position in DTE Energy by 40.8% during the first quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after purchasing an additional 5,072 shares during the period. Intech Investment Management LLC raised its position in DTE Energy by 6.5% during the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after purchasing an additional 773 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of DTE Energy in the 2nd quarter valued at approximately $203,000. Finally, Apollon Wealth Management LLC boosted its holdings in shares of DTE Energy by 11.1% in the 2nd quarter. Apollon Wealth Management LLC now owns 2,682 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 267 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

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.