Bank of New York Mellon Corp Grows Stake in DTE Energy Company $DTE

Bank of New York Mellon Corp grew its stake in shares of DTE Energy Company (NYSE:DTE) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,278,895 shares of the utilities provider’s stock after acquiring an additional 7,159 shares during the quarter. Bank of New York Mellon Corp’s holdings in DTE Energy were worth $180,874,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Global Wealth Strategies & Associates bought a new stake in DTE Energy during the 3rd quarter valued at about $28,000. Clean Yield Group bought a new position in shares of DTE Energy in the third quarter worth approximately $28,000. Capital A Wealth Management LLC grew its holdings in shares of DTE Energy by 5,775.0% during the second quarter. Capital A Wealth Management LLC now owns 235 shares of the utilities provider’s stock valued at $31,000 after buying an additional 231 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of DTE Energy during the third quarter valued at approximately $31,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in DTE Energy in the 2nd quarter worth approximately $32,000. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $134.17 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $27.86 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.47 and a beta of 0.49. The firm’s 50 day moving average price is $131.98 and its 200-day moving average price is $136.11. DTE Energy Company has a twelve month low of $118.20 and a twelve month high of $143.79.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, October 30th. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.15. DTE Energy had a net margin of 9.34% and a return on equity of 12.63%. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the business posted $2.22 earnings per share. Equities research analysts expect that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.09. DTE Energy’s payout ratio is presently 69.97%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America upped their price objective on DTE Energy from $153.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. lowered their price target on DTE Energy from $151.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Morgan Stanley reiterated an “overweight” rating and issued a $142.00 price objective on shares of DTE Energy in a report on Wednesday, January 21st. Wells Fargo & Company lowered their target price on shares of DTE Energy from $157.00 to $152.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Finally, UBS Group reduced their price target on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $147.62.

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.