1,309,725 Shares in DTE Energy Company $DTE Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,309,725 shares of the utilities provider’s stock, valued at approximately $199,563,000.

A number of other hedge funds have also recently added to or reduced their stakes in DTE. The Manufacturers Life Insurance Company bought a new stake in shares of DTE Energy during the second quarter worth $61,447,000. Fiduciary Financial Advisors bought a new position in shares of DTE Energy in the 2nd quarter valued at $119,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of DTE Energy during the 2nd quarter valued at $2,236,000. Sanctuary Advisors LLC acquired a new stake in shares of DTE Energy during the 2nd quarter valued at $4,208,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in DTE Energy during the 2nd quarter worth $3,598,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DTE. Morgan Stanley lowered their target price on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a report on Friday, August 21st. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Barclays cut their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Finally, BMO Capital Markets boosted their target price on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.46.

DTE Energy Stock Up 1.1%

Shares of NYSE DTE opened at $137.61 on Thursday. The company’s 50 day moving average price is $145.44 and its 200-day moving average price is $145.36. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a 52-week low of $126.23 and a 52-week high of $155.74. The company has a market capitalization of $28.64 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 2.96 and a beta of 0.38.

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

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be given 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 (DPR) is 73.73%.

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.