OMERS ADMINISTRATION Corp Buys New Holdings in DTE Energy Company $DTE

OMERS ADMINISTRATION Corp purchased a new position in DTE Energy Company (NYSE:DTE) during the second quarter, HoldingsChannel reports. The fund purchased 14,673 shares of the utilities provider’s stock, valued at approximately $2,236,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System purchased a new position in shares of DTE Energy in the first quarter worth $1,550,000. Convergence Investment Partners LLC purchased a new position in DTE Energy during the first quarter valued at $3,142,000. Capital Innovations LLC purchased a new position in DTE Energy during the fourth quarter valued at $1,014,000. Vanguard Group Inc. increased its holdings in DTE Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock valued at $3,392,888,000 after acquiring an additional 766,499 shares during the last quarter. Finally, Oxbow Advisors LLC bought a new stake in DTE Energy in the 4th quarter valued at $3,145,000. 76.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on DTE shares. Morgan Stanley dropped their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a report on Friday, August 21st. Mizuho reduced their target price on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. TD Cowen began coverage on DTE Energy in a research report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price on the stock. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Barclays cut their price target on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Price Performance

DTE stock opened at $137.61 on Thursday. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The firm has a market capitalization of $28.64 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 2.96 and a beta of 0.38. The company has a fifty day simple moving average of $145.44 and a two-hundred day simple moving average of $145.36. 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 posted its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the previous year, the firm posted $1.36 EPS. Analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be 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 of this dividend is Monday, September 21st. DTE Energy’s payout ratio is presently 73.73%.

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.