Bank of New York Mellon Corp Purchases 7,159 Shares of DTE Energy Company $DTE

Bank of New York Mellon Corp raised its position in shares of DTE Energy Company (NYSE:DTE) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,278,895 shares of the utilities provider’s stock after buying an additional 7,159 shares during the period. Bank of New York Mellon Corp owned about 0.62% of DTE Energy worth $180,874,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DTE. Global Wealth Strategies & Associates purchased a new stake in shares of DTE Energy during the third quarter worth about $28,000. Clean Yield Group bought a new position in DTE Energy during the 3rd quarter valued at approximately $28,000. Capital A Wealth Management LLC lifted its holdings in DTE Energy by 5,775.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 235 shares of the utilities provider’s stock worth $31,000 after buying an additional 231 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of DTE Energy in the 3rd quarter worth approximately $31,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of DTE Energy during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America raised their price target on DTE Energy from $153.00 to $154.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company dropped their target price on shares of DTE Energy from $157.00 to $152.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Mizuho lifted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. UBS Group decreased their price target on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday, January 21st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.62.

DTE Energy Stock Down 0.2%

Shares of DTE Energy stock opened at $134.17 on Friday. DTE Energy Company has a 1 year low of $118.20 and a 1 year high of $143.79. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.47 and a beta of 0.49. The company has a 50-day moving average of $131.98 and a 200 day moving average of $136.11. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.15 and a quick ratio of 0.68.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, October 30th. The utilities provider reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.15. DTE Energy had a net margin of 9.34% and a return on equity of 12.63%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the company earned $2.22 earnings per share. As a group, sell-side analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a $1.165 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from DTE Energy’s previous quarterly dividend of $1.09. DTE Energy’s payout ratio is presently 69.97%.

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.