Texas Permanent School Fund Increases Stake in DTE Energy (NYSE:DTE)

Posted by on May 8th, 2023

Texas Permanent School Fund boosted its stake in shares of DTE Energy (NYSE:DTE – Get Rating) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,970 shares of the utilities provider’s stock after acquiring an additional 557 shares during the quarter. Texas Permanent School Fund’s holdings in DTE Energy were worth $3,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of DTE Energy in the fourth quarter valued at approximately $29,000. CI Investments Inc. boosted its stake in shares of DTE Energy by 966.7% in the third 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. Sargent Bickham Lagudis LLC acquired a new stake in shares of DTE Energy in the third quarter worth approximately $44,000. Godsey & Gibb Inc. acquired a new stake in shares of DTE Energy in the fourth quarter worth approximately $47,000. Finally, General Partner Inc. acquired a new stake in shares of DTE Energy in the fourth quarter worth approximately $57,000. 74.55% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.6 %

DTE Energy stock opened at $113.36 on Monday. The stock’s 50 day moving average price is $110.10 and its 200 day moving average price is $113.16. The company has a market cap of $23.36 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. DTE Energy has a 1-year low of $100.64 and a 1-year high of $136.77. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.68.

DTE Energy (NYSE:DTE – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.05). DTE Energy had a return on equity of 10.59% and a net margin of 6.15%. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. On average, sell-side analysts predict that DTE Energy will post 6.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, June 19th will be given a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, June 15th. DTE Energy’s dividend payout ratio is currently 67.43%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DTE. Wells Fargo & Company lowered their price objective on DTE Energy from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 1st. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, January 13th. BMO Capital Markets upped their price target on DTE Energy from $123.00 to $124.00 and gave the company a “market perform” rating in a research note on Monday, April 10th. StockNews.com started coverage on DTE Energy in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Guggenheim cut their price objective on DTE Energy from $131.00 to $127.00 in a report on Monday, April 24th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

About DTE Energy

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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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