Jupiter Topco LLC Takes $477.26 Million Position in DTE Energy Company $DTE

Jupiter Topco LLC purchased a new position in DTE Energy Company (NYSE:DTE) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,132,273 shares of the utilities provider’s stock, valued at approximately $477,264,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new position in DTE Energy during the fourth quarter valued at $25,000. Torren Management LLC purchased a new stake 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 4th quarter worth about $29,000. Key Financial Inc purchased a new position in DTE Energy in the 1st quarter valued at about $29,000. Finally, SHP Wealth Management purchased a new position in DTE Energy in the 4th quarter valued at about $35,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE DTE opened at $136.16 on Wednesday. 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 stock’s fifty day moving average is $145.63 and its two-hundred day moving average is $145.35. The firm has a market capitalization of $28.33 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. DTE Energy Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74.

DTE Energy (NYSE:DTE) last issued its 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 business 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 company earned $1.36 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be given a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

Analyst Upgrades and Downgrades

Several research firms have commented on DTE. BMO Capital Markets boosted their price objective on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Barclays lowered their price target 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. Mizuho dropped their price target on DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Truist Financial reduced their price objective on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.46.

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.