AMJ Financial Wealth Management Has $6.55 Million Stock Position in DTE Energy (NYSE:DTE)

AMJ Financial Wealth Management boosted its holdings in shares of DTE Energy (NYSE:DTEGet Rating) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,887 shares of the utilities provider’s stock after purchasing an additional 1,149 shares during the period. DTE Energy accounts for approximately 4.3% of AMJ Financial Wealth Management’s holdings, making the stock its 7th largest holding. AMJ Financial Wealth Management’s holdings in DTE Energy were worth $6,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in shares of DTE Energy by 70.7% in the 2nd quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Charter Oak Capital Management LLC acquired a new stake in shares of DTE Energy during the second quarter worth $39,000. Western Pacific Wealth Management LP bought a new position in DTE Energy during the third quarter worth about $42,000. Sargent Bickham Lagudis LLC bought a new position in DTE Energy during the third quarter worth about $44,000. Finally, Clear Street Markets LLC lifted its holdings in DTE Energy by 408.9% during the second quarter. Clear Street Markets LLC now owns 402 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 323 shares in the last quarter. 74.55% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of NYSE DTE opened at $113.43 on Wednesday. The business’s 50 day moving average price is $116.68 and its two-hundred day moving average price is $120.68. The company has a market cap of $21.98 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 3.04 and a beta of 0.58. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 1.94. DTE Energy has a twelve month low of $100.64 and a twelve month high of $140.23.

DTE Energy (NYSE:DTEGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The utilities provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $4 billion. DTE Energy had a return on equity of 12.90% and a net margin of 5.79%. During the same quarter in the previous year, the business earned $1.72 earnings per share. On average, analysts predict that DTE Energy will post 6 EPS for the current year.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Stockholders of record on Monday, December 19th were given a $0.952 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, December 16th. This represents a $3.81 annualized dividend and a dividend yield of 3.36%. DTE Energy’s dividend payout ratio is presently 65.92%.

Analysts Set New Price Targets

Several research analysts have weighed in on DTE shares. Guggenheim reduced their target price on DTE Energy from $145.00 to $122.00 in a report on Monday, October 24th. StockNews.com started coverage on DTE Energy in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley boosted their price target on DTE Energy from $130.00 to $131.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets boosted their price target on DTE Energy from $117.00 to $125.00 and gave the company a “market perform” rating in a report on Tuesday, November 22nd. Finally, TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, January 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.42.

About DTE Energy

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DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.

Further Reading

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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