DTE Energy Company $DTE Shares Newly Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new position in shares of DTE Energy Company (NYSE:DTE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,534 shares of the utilities provider’s stock, valued at approximately $5,911,000. DTE Energy accounts for about 0.8% of Machina Capital S.A.S.’s holdings, making the stock its 12th largest holding.

Other large investors have also recently made changes to their positions in the company. Keybank National Association OH grew its holdings in DTE Energy by 34.7% during the 3rd quarter. Keybank National Association OH now owns 6,332 shares of the utilities provider’s stock worth $771,000 after acquiring an additional 1,631 shares in the last quarter. StoneRidge PMG Advisors LLC purchased a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $278,000. Almanack Investment Partners LLC. increased its position in shares of DTE Energy by 5.0% in the 3rd quarter. Almanack Investment Partners LLC. now owns 2,452 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 117 shares during the last quarter. StoneX Group Inc. acquired a new stake in shares of DTE Energy in the 3rd quarter valued at $677,000. Finally, Alps Advisors Inc. raised its holdings in shares of DTE Energy by 7.7% in the 3rd quarter. Alps Advisors Inc. now owns 23,338 shares of the utilities provider’s stock valued at $2,843,000 after purchasing an additional 1,665 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on DTE. Truist Financial set a $139.00 price objective on shares of DTE Energy in a research report on Friday, October 16th. Morgan Stanley dropped their target price on DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. BMO Capital Markets raised their price target on DTE Energy from $134.00 to $139.00 and gave the company a “market perform” rating in a research note on Friday, October 16th. Barclays cut their price target on DTE Energy from $154.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. upped 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.58.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $139.12 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.62 and a debt-to-equity ratio of 1.97. DTE Energy Company has a 52 week low of $119.68 and a 52 week high of $155.74. The firm’s 50 day moving average is $130.28 and its two-hundred day moving average is $140.87. The firm has a market capitalization of $28.96 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.84 and a beta of 0.35.

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

DTE Energy Increases Dividend

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

Insider Activity

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm’s 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 transaction, the insider 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

DTE Energy Company 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.