35,856 Shares in DTE Energy Company $DTE Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new stake in DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,856 shares of the utilities provider’s stock, valued at approximately $5,463,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new stake in DTE Energy in the fourth quarter valued at $25,000. Quest 10 Wealth Builders Inc. raised its stake in shares of DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after buying an additional 181 shares during the last quarter. Torren Management LLC purchased a new stake in shares of DTE Energy in the 4th quarter worth about $26,000. Elyxium Wealth LLC purchased a new stake in shares of DTE Energy in the 4th quarter worth about $29,000. Finally, Key Financial Inc acquired a new stake in DTE Energy in the 1st quarter valued at about $29,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Down 0.7%

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

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the previous year, the business earned $1.36 earnings per share. Analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on DTE shares. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. TD Cowen initiated coverage on shares of DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target on the stock. Truist Financial lowered their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley restated an “overweight” rating on shares of DTE Energy in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.62.

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.