FSA Advisors Inc. Buys Shares of 12,414 DTE Energy Company $DTE

FSA Advisors Inc. purchased a new stake in DTE Energy Company (NYSE:DTE) during the 2nd quarter, Holdings Channel reports. The firm purchased 12,414 shares of the utilities provider’s stock, valued at approximately $1,891,000. DTE Energy accounts for 0.8% of FSA Advisors Inc.’s portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in DTE. BlackRock Inc. bought a new stake in shares of DTE Energy during the second quarter valued at about $3,915,284,000. Capital Research Global Investors grew its position in DTE Energy by 3.1% in the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock valued at $1,605,539,000 after buying an additional 379,443 shares in the last quarter. State Street Corp increased its stake in DTE Energy by 2.5% during the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock valued at $1,441,776,000 after buying an additional 272,068 shares during the period. Geode Capital Management LLC increased its stake in DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock valued at $718,668,000 after buying an additional 117,322 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of DTE Energy during the 2nd quarter worth about $477,264,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DTE. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. JPMorgan Chase & Co. upped their target price on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a research note on Thursday, July 9th. Morgan Stanley decreased their price target on DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Finally, TD Cowen initiated coverage on DTE Energy in a research report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target on the stock. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.54.

DTE Energy Stock Down 1.2%

DTE stock opened at $136.11 on Friday. DTE Energy Company has a 12 month low of $126.23 and a 12 month high of $155.74. The firm has a market cap of $28.32 billion, a PE ratio of 21.54, a P/E/G ratio of 2.99 and a beta of 0.38. The firm has a 50 day simple moving average of $145.21 and a 200 day simple moving average of $145.37. 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 posted its quarterly earnings results 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 firm 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 quarter in the previous year, the business posted $1.36 earnings per share. Equities research analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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