Legal & General Group Plc Buys New Holdings in DTE Energy Company $DTE

Legal & General Group Plc purchased a new position in shares of DTE Energy Company (NYSE:DTE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,309,725 shares of the utilities provider’s stock, valued at approximately $199,563,000. Legal & General Group Plc owned 0.63% of DTE Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new stake in DTE Energy during the 4th quarter valued at $25,000. Key Financial Inc acquired a new position in shares of DTE Energy in the first quarter valued at $29,000. Torren Management LLC bought a new position in shares of DTE Energy in the fourth quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy during the 4th quarter worth about $29,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of DTE Energy during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $137.61 on Thursday. The business has a fifty day moving average price of $145.44 and a two-hundred day moving average price of $145.36. The stock has a market capitalization of $28.64 billion, a PE ratio of 21.77, a P/E/G ratio of 2.96 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 Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping 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 company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the business earned $1.36 earnings per share. As a group, equities analysts predict 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. Shareholders 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 of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

Wall Street Analysts Forecast Growth

DTE has been the topic of several research analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. JPMorgan Chase & Co. boosted their price objective on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Truist Financial decreased their target price on DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Morgan Stanley lowered their target price on DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Finally, TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.46.

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.