24,890 Shares in DTE Energy Company $DTE Purchased by Oxbow Advisors LLC

Oxbow Advisors LLC acquired a new stake in shares of DTE Energy Company (NYSE:DTE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 24,890 shares of the utilities provider’s stock, valued at approximately $3,793,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTE. Laurel Wealth Advisors LLC acquired a new stake in shares of DTE Energy during the fourth quarter valued at approximately $25,000. Key Financial Inc acquired a new position in DTE Energy in the 1st quarter worth approximately $29,000. Torren Management LLC acquired a new position in DTE Energy in the 4th quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. grew its position in DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 181 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new position in DTE Energy during the 4th quarter worth approximately $29,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DTE. Bank of America restated a “buy” rating on shares of DTE Energy in a report on Wednesday, April 22nd. Morgan Stanley reiterated an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. JPMorgan Chase & Co. raised their price objective on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $158.62.

DTE Energy Trading Down 0.5%

Shares of NYSE:DTE opened at $140.42 on Wednesday. The firm has a fifty day moving average of $146.68 and a two-hundred day moving average of $145.26. The firm has a market capitalization of $29.22 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 3.08 and a beta of 0.38. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the business posted $1.36 earnings per share. On average, equities analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is presently 73.73%.

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.