Romano Brothers AND Company Buys Shares of 1,110 DTE Energy (NYSE:DTE)

Posted by Defense World Staff on Mar 26th, 2023

Romano Brothers AND Company bought a new stake in DTE Energy (NYSE:DTE – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,110 shares of the utilities provider’s stock, valued at approximately $130,000.

A number of other large investors have also recently modified their holdings of DTE. Lazard Asset Management LLC boosted its holdings in shares of DTE Energy by 70.7% in the 2nd quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. CI Investments Inc. boosted its holdings in shares of DTE Energy by 966.7% during the 3rd quarter. CI Investments Inc. now owns 256 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $42,000. Sargent Bickham Lagudis LLC acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $44,000. Finally, Mach 1 Financial Group LLC acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 74.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DTE. StockNews.com began coverage on DTE Energy in a report on Thursday, March 16th. They set a “hold” rating on the stock. Wolfe Research raised DTE Energy from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a report on Thursday, December 8th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, January 13th. Wells Fargo & Company cut their price objective on DTE Energy from $138.00 to $133.00 and set an “overweight” rating on the stock in a report on Wednesday, February 1st. Finally, Morgan Stanley lowered their target price on DTE Energy from $126.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, March 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.56.

DTE Energy Stock Performance

DTE stock opened at $106.75 on Friday. The stock has a 50-day moving average price of $111.35 and a 200-day moving average price of $114.97. DTE Energy has a 1-year low of $100.64 and a 1-year high of $140.23. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 1.62. The firm has a market cap of $21.96 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58.

DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The utilities provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. DTE Energy had a return on equity of 12.99% and a net margin of 5.63%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the company posted $1.05 EPS. As a group, equities research analysts expect that DTE Energy will post 6.22 earnings per share for the current year.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, March 20th will be given a $0.9525 dividend. The ex-dividend date is Friday, March 17th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.95. This represents a $3.81 annualized dividend and a dividend yield of 3.57%. DTE Energy’s dividend payout ratio (DPR) is 69.02%.

DTE Energy Company Profile

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DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.