Meeder Advisory Services Inc. Makes New Investment in DTE Energy Company $DTE

Meeder Advisory Services Inc. acquired a new position in shares of DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,629 shares of the utilities provider’s stock, valued at approximately $705,000.

Other hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new stake in DTE Energy in the 4th quarter worth about $25,000. Key Financial Inc purchased a new stake in DTE Energy during the first quarter valued at about $29,000. Torren Management LLC purchased a new stake in DTE Energy during the fourth quarter valued at about $26,000. Quest 10 Wealth Builders Inc. boosted its position in DTE Energy by 754.2% during 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 during the period. Finally, Elyxium Wealth LLC bought a new position in DTE Energy during the fourth quarter worth about $29,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DTE shares. Barclays decreased their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. BMO Capital Markets upped their price target on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. Truist Financial decreased their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.62.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $138.16 on Friday. The stock has a market cap of $28.75 billion, a PE ratio of 21.86, a PEG ratio of 3.04 and a beta of 0.38. The company’s fifty day moving average is $146.38 and its 200 day moving average is $145.33. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 12.19% and a net margin of 8.00%.During the same period in the prior year, the business posted $1.36 EPS. Research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. DTE Energy’s dividend payout ratio is currently 73.73%.

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.