Mitsubishi UFJ Asset Management Co. Ltd. Makes New $76.95 Million Investment in DTE Energy Company $DTE

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 505,009 shares of the utilities provider’s stock, valued at approximately $76,948,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of DTE Energy as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in DTE Energy during the 4th quarter worth $25,000. Quest 10 Wealth Builders Inc. raised its position in DTE Energy by 754.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 181 shares during the period. Torren Management LLC acquired a new position in shares of DTE Energy during the fourth quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in shares of DTE Energy during the fourth quarter worth about $29,000. Finally, Key Financial Inc purchased a new stake in shares of DTE Energy in the first quarter worth about $29,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DTE. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research note on Thursday, July 9th. BMO Capital Markets boosted their price target on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. TD Cowen assumed coverage on DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target for the company. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings raised shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.62.

DTE Energy Stock Performance

Shares of DTE stock opened at $140.42 on Wednesday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The company’s fifty day moving average price is $146.68 and its two-hundred day moving average price is $145.26. The firm has a market capitalization of $29.22 billion, a P/E ratio of 22.22, a P/E/G ratio of 3.08 and a beta of 0.38. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74.

DTE Energy (NYSE:DTE) last announced 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. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the firm earned $1.36 earnings per share. On average, research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is 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.