DTE Energy (NYSE:DTE) Shares Bought by Spire Wealth Management

Posted by Defense World Staff on Apr 25th, 2023

Spire Wealth Management grew its stake in shares of DTE Energy (NYSE:DTE – Get Rating) by 22.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,923 shares of the utilities provider’s stock after acquiring an additional 358 shares during the period. Spire Wealth Management’s holdings in DTE Energy were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CI Investments Inc. raised its holdings in DTE Energy by 966.7% during the third quarter. CI Investments Inc. now owns 256 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Western Pacific Wealth Management LP acquired a new position in DTE Energy during the third quarter worth $42,000. Sargent Bickham Lagudis LLC acquired a new position in DTE Energy during the third quarter worth $44,000. Godsey & Gibb Inc. acquired a new position in DTE Energy during the fourth quarter worth $47,000. Finally, Mach 1 Financial Group LLC acquired a new position in DTE Energy during the third quarter worth $56,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.

Analyst Upgrades and Downgrades

DTE has been the subject of several research reports. Guggenheim reduced their price objective on DTE Energy from $131.00 to $127.00 in a report on Monday. Wells Fargo & Company reduced their price objective on DTE Energy from $138.00 to $133.00 and set an “overweight” rating for the company in a report on Wednesday, February 1st. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, January 13th. StockNews.com assumed coverage on DTE Energy in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Morgan Stanley raised their price target on DTE Energy from $120.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.67.

DTE Energy Stock Up 0.6 %

DTE opened at $114.34 on Tuesday. DTE Energy has a 12 month low of $100.64 and a 12 month high of $137.34. The business has a 50-day moving average of $110.24 and a two-hundred day moving average of $112.74. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.81 and a quick ratio of 0.63. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59.

DTE Energy (NYSE:DTE – Get Rating) last released its earnings results on Thursday, February 23rd. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The firm 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 period in the previous year, the firm earned $1.05 earnings per share. On average, research analysts expect that DTE Energy will post 6.18 earnings per share for the current year.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, April 15th. Investors of record on Monday, March 20th were issued a $0.9525 dividend. The ex-dividend date was Friday, March 17th. This represents a $3.81 dividend on an annualized basis and a yield of 3.33%. This is a boost from DTE Energy’s previous quarterly dividend of $0.95. DTE Energy’s dividend payout ratio (DPR) is presently 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.