Hennion & Walsh Asset Management Inc. Grows Stock Holdings in DTE Energy Company $DTE

Hennion & Walsh Asset Management Inc. grew its position in DTE Energy Company (NYSE:DTE) by 14.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 33,731 shares of the utilities provider’s stock after acquiring an additional 4,308 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in DTE Energy were worth $5,140,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new stake in DTE Energy during the 1st quarter worth approximately $1,550,000. Convergence Investment Partners LLC acquired a new stake in DTE Energy during the 1st quarter worth approximately $3,142,000. Vanguard Group Inc. boosted its position in DTE Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock valued at $3,392,888,000 after buying an additional 766,499 shares during the period. Capital Innovations LLC purchased a new position in DTE Energy in the 4th quarter valued at approximately $1,014,000. Finally, Oxbow Advisors LLC acquired a new position in shares of DTE Energy in the fourth quarter worth $3,145,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DTE. Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Barclays decreased their target price on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a report on Thursday, July 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.62.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $143.72, for a total transaction of $143,720.00. Following the completion of the transaction, the vice president directly owned 6,233 shares of the company’s stock, valued at approximately $895,806.76. This represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

DTE Energy Trading Up 0.1%

Shares of NYSE:DTE opened at $140.00 on Monday. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The company’s 50 day moving average is $147.23 and its two-hundred day moving average is $145.10. The company has a market cap of $29.13 billion, a PE ratio of 22.15, a P/E/G ratio of 3.06 and a beta of 0.38. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.18. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the previous year, the company earned $1.36 EPS. Equities analysts predict that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s payout ratio is 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.