R Squared Ltd Purchases 6,130 Shares of DTE Energy Company $DTE

R Squared Ltd acquired a new stake in shares of DTE Energy Company (NYSE:DTE) during the 3rd quarter, Holdings Channel reports. The firm acquired 6,130 shares of the utilities provider’s stock, valued at approximately $747,000.

Other institutional investors have also recently made changes to their positions in the company. Prosperity Consulting Group LLC grew its stake in shares of DTE Energy by 1.2% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after buying an additional 76 shares during the period. Versant Capital Management Inc raised its stake in DTE Energy by 5.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,756 shares of the utilities provider’s stock worth $268,000 after buying an additional 94 shares during the period. Old North State Wealth Management LLC boosted its holdings in DTE Energy by 4.5% in the third quarter. Old North State Wealth Management LLC now owns 2,556 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 110 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in DTE Energy by 2.2% in the third quarter. D.A. Davidson & CO. now owns 5,415 shares of the utilities provider’s stock worth $660,000 after acquiring an additional 114 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in DTE Energy by 68.0% in the second quarter. Anchor Investment Management LLC now owns 284 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Activity at DTE Energy

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction on 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 $9,923,386.62. This represents a 6.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DTE has been the topic of a number of recent research reports. Barclays cut their target price on DTE Energy from $154.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, October 16th. Jefferies Financial Group set a $152.00 price target on shares of DTE Energy in a research note on Friday, October 23rd. Weiss Ratings lowered shares of DTE Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Ladenburg Thalmann & Co. Inc. upped their price objective on shares of DTE Energy from $135.50 to $144.50 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, HSBC initiated coverage on shares of DTE Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $135.00 price objective on the stock. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.58.

DTE Energy Stock Performance

Shares of DTE opened at $139.16 on Friday. The stock has a 50 day moving average of $130.41 and a 200 day moving average of $140.92. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.87 and a beta of 0.35. DTE Energy Company has a 12 month low of $119.68 and a 12 month high of $155.74. The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 1.97.

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

DTE Energy Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 21st. This is a boost from DTE Energy’s previous quarterly dividend of $1.1650. This represents a $4.98 annualized dividend and a dividend yield of 3.6%. DTE Energy’s dividend payout ratio is presently 71.04%.

DTE Energy 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.