Natixis Advisors L.P. Raises Stock Position in DTE Energy (NYSE:DTE)

Posted by on Apr 12th, 2023

Natixis Advisors L.P. increased its stake in DTE Energy (NYSE:DTE – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,162 shares of the utilities provider’s stock after buying an additional 3,465 shares during the quarter. Natixis Advisors L.P. owned about 0.06% of DTE Energy worth $13,653,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. CI Investments Inc. lifted its stake 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 worth $29,000 after acquiring an additional 232 shares during the last quarter. Western Pacific Wealth Management LP purchased a new stake in DTE Energy during the 3rd quarter worth approximately $42,000. Sargent Bickham Lagudis LLC purchased a new stake in DTE Energy during the 3rd quarter worth approximately $44,000. Godsey & Gibb Inc. purchased a new position in DTE Energy during the 4th quarter worth approximately $47,000. Finally, Mach 1 Financial Group LLC acquired a new position in DTE Energy during the third quarter valued at $56,000. 74.55% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

NYSE DTE opened at $113.91 on Wednesday. The business has a fifty day moving average of $110.34 and a 200-day moving average of $113.08. DTE Energy has a fifty-two week low of $100.64 and a fifty-two week high of $140.23. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 1.62. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.05 and a beta of 0.59.

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

DTE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Monday, March 20th will be paid a dividend of $0.9525 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $0.95. The ex-dividend date is Friday, March 17th. This represents a $3.81 annualized dividend and a yield of 3.34%. DTE Energy’s payout ratio is presently 69.02%.

Analyst Upgrades and Downgrades

DTE has been the topic of several analyst reports. StockNews.com initiated coverage on shares of DTE Energy in a research report on Thursday, March 16th. They set a “hold” rating on the stock. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, January 13th. Wells Fargo & Company lowered their price target on shares of DTE Energy from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 1st. BMO Capital Markets boosted their price target on shares of DTE Energy from $123.00 to $124.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Morgan Stanley dropped their target price on shares of DTE Energy from $126.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $128.44.

DTE Energy 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.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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