Centaurus Financial Inc. Purchases New Stake in DTE Energy Company $DTE

Centaurus Financial Inc. purchased a new stake in shares of DTE Energy Company (NYSE:DTE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,206 shares of the utilities provider’s stock, valued at approximately $946,000.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of DTE Energy by 200.7% during the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock valued at $1,370,000 after acquiring an additional 6,614 shares in the last quarter. Woodline Partners LP increased its holdings in DTE Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after purchasing an additional 5,072 shares in the last quarter. Intech Investment Management LLC raised its position in DTE Energy by 6.5% in the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after purchasing an additional 773 shares during the period. Sivia Capital Partners LLC purchased a new position in DTE Energy in the second quarter valued at about $203,000. Finally, Jump Financial LLC lifted its stake in shares of DTE Energy by 154.5% during the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider’s stock worth $1,679,000 after purchasing an additional 7,696 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on DTE. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. Barclays reduced their price target on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Truist Financial lowered their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, BMO Capital Markets dropped their price objective on shares of DTE Energy from $150.00 to $143.00 and set a “market perform” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $157.00.

DTE Energy Stock Down 0.4%

Shares of NYSE DTE opened at $135.75 on Friday. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The firm has a market cap of $28.25 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.96 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The stock’s 50-day simple moving average is $144.97 and its 200-day simple moving average is $145.30.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. As a group, equities analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend 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.