M1 Capital Management LLC Makes New $1.21 Million Investment in DTE Energy Company $DTE

M1 Capital Management LLC purchased a new position in shares of DTE Energy Company (NYSE:DTE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,963 shares of the utilities provider’s stock, valued at approximately $1,213,000. DTE Energy makes up 0.4% of M1 Capital Management LLC’s portfolio, making the stock its 29th biggest position.

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

DTE Energy Stock Performance

Shares of DTE stock opened at $135.28 on Friday. The company has a fifty day moving average price of $146.13 and a two-hundred day moving average price of $145.26. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The stock has a market cap of $28.15 billion, a P/E ratio of 21.41, a P/E/G ratio of 3.00 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53.

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. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates 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 business earned $1.36 EPS. As a group, equities analysts predict that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DTE shares. TD Cowen initiated coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $166.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. BMO Capital Markets upped their target price on DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Barclays reduced their price target on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.46.

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.