StoneX Group Inc. Acquires New Stake in DTE Energy Company $DTE

StoneX Group Inc. bought a new stake in shares of DTE Energy Company (NYSE:DTE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,330 shares of the utilities provider’s stock, valued at approximately $677,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DTE. First Bancorp Inc ME purchased a new stake in DTE Energy in the second quarter valued at about $29,000. Community Bank N.A. acquired a new position in shares of DTE Energy during the second quarter valued at about $31,000. Elevation Wealth Partners LLC boosted its stake in DTE Energy by 682.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in DTE Energy during the 2nd quarter worth approximately $35,000. Finally, Provenance Wealth Advisors LLC increased its stake in DTE Energy by 1,681.2% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 285 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the sale, the insider directly owned 73,122 shares of the company’s stock, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

DTE Energy Stock Up 0.6%

DTE stock opened at $139.12 on Wednesday. The firm’s fifty day simple moving average is $130.28 and its 200-day simple moving average is $140.87. The company has a market capitalization of $28.96 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 2.84 and a beta of 0.35. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.62 and a quick ratio of 0.40. DTE Energy Company has a 12 month low of $119.68 and a 12 month high of $155.74.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.17. DTE Energy had a net margin of 8.21% and a return on equity of 12.17%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, equities research analysts forecast that DTE Energy Company will post 7.70 earnings per share for the current year.

DTE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, December 21st will be issued a $1.2450 dividend. The ex-dividend date of this dividend is Monday, December 21st. This is a positive change from DTE Energy’s previous quarterly dividend of $1.1650. This represents a $4.98 annualized dividend and a yield of 3.6%. DTE Energy’s dividend payout ratio is currently 71.04%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DTE shares. BMO Capital Markets raised their price target on shares of DTE Energy from $134.00 to $139.00 and gave the stock a “market perform” rating in a report on Friday, October 16th. JPMorgan Chase & Co. upped their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. Truist Financial set a $139.00 price target on DTE Energy in a research note on Friday, October 16th. Finally, Mizuho cut their price objective on DTE Energy from $152.00 to $136.00 and set an “outperform” rating on the stock in a report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.58.

DTE Energy Profile

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state. The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.