Korea Investment CORP Makes New Investment in DTE Energy Company $DTE

Korea Investment CORP acquired a new stake in DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,560 shares of the utilities provider’s stock, valued at approximately $6,942,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Convergence Investment Partners LLC purchased a new position in shares of DTE Energy in the first quarter worth $3,142,000. Louisiana State Employees Retirement System purchased a new stake in shares of DTE Energy during the first quarter valued at $1,550,000. Capital Innovations LLC purchased a new stake in shares of DTE Energy during the fourth quarter valued at $1,014,000. Vanguard Group Inc. increased its position in shares of 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 period. Finally, Oxbow Advisors LLC acquired a new position in shares of DTE Energy in the 4th quarter valued at $3,145,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of NYSE DTE opened at $135.71 on Tuesday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The firm has a market cap of $28.24 billion, a PE ratio of 21.47, a PEG ratio of 2.94 and a beta of 0.38. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The firm has a fifty day moving average of $145.89 and a 200 day moving average of $145.34.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, research analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid 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 73.73%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DTE. Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. JPMorgan Chase & Co. lifted their price objective on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Truist Financial cut their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a report on Thursday, July 9th. One equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

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.