The Manufacturers Life Insurance Company Makes New $61.45 Million Investment in DTE Energy Company $DTE

The Manufacturers Life Insurance Company bought a new stake in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 403,274 shares of the utilities provider’s stock, valued at approximately $61,447,000. The Manufacturers Life Insurance Company owned about 0.19% of DTE Energy at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in shares of DTE Energy in the fourth quarter worth $25,000. Torren Management LLC bought a new position in DTE Energy during the 4th quarter valued at $26,000. Elyxium Wealth LLC bought a new position in DTE Energy during the 4th quarter valued at $29,000. Key Financial Inc acquired a new position in DTE Energy during the 1st quarter worth $29,000. Finally, SHP Wealth Management acquired a new position in DTE Energy during the 4th quarter worth $35,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DTE shares. Jefferies Financial Group set a $172.00 target price on shares of DTE Energy in a research note on Thursday, July 9th. Truist Financial decreased their price target on DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Morgan Stanley lowered their price objective on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a report on Friday. Barclays cut their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Finally, Mizuho reduced their target price on DTE Energy from $165.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Trading Up 0.4%

NYSE DTE opened at $136.16 on Wednesday. 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 one year low of $126.23 and a one year high of $155.74. The company has a 50-day simple moving average of $145.63 and a 200-day simple moving average of $145.35. The firm has a market capitalization of $28.33 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38.

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

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. 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 is 73.73%.

DTE Energy 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.