Deutsche Bank AG Buys 205,258 Shares of DTE Energy (NYSE:DTE)

Posted by Defense World Staff on Jun 11th, 2023

Deutsche Bank AG increased its holdings in shares of DTE Energy (NYSE:DTE – Get Rating) by 89.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,955 shares of the utilities provider’s stock after buying an additional 205,258 shares during the period. Deutsche Bank AG owned 0.22% of DTE Energy worth $51,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Copperwynd Financial LLC raised its stake in shares of DTE Energy by 2.1% during the fourth quarter. Copperwynd Financial LLC now owns 4,414 shares of the utilities provider’s stock worth $519,000 after buying an additional 92 shares during the last quarter. Glassman Wealth Services raised its stake in shares of DTE Energy by 10.5% during the fourth quarter. Glassman Wealth Services now owns 980 shares of the utilities provider’s stock worth $115,000 after buying an additional 93 shares during the last quarter. Utah Retirement Systems raised its stake in shares of DTE Energy by 0.3% during the third quarter. Utah Retirement Systems now owns 34,459 shares of the utilities provider’s stock worth $3,965,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of DTE Energy by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the utilities provider’s stock worth $1,469,000 after buying an additional 100 shares during the last quarter. Finally, Veriti Management LLC raised its stake in shares of DTE Energy by 3.9% during the fourth quarter. Veriti Management LLC now owns 2,708 shares of the utilities provider’s stock worth $318,000 after buying an additional 101 shares during the last quarter. 74.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays set a €25.00 ($26.88) price target on shares of DTE Energy in a research note on Thursday, February 23rd. BMO Capital Markets upped their target price on shares of DTE Energy from $123.00 to $124.00 and gave the company a “market perform” rating in a research note on Monday, April 10th. The Goldman Sachs Group set a €25.00 ($26.88) target price on shares of DTE Energy in a research note on Thursday, February 23rd. Morgan Stanley upped their target price on shares of DTE Energy from $120.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Finally, StockNews.com initiated coverage on shares of DTE Energy in a research note on Thursday, May 18th. They issued a “hold” rating for the company. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 4,000 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $113.09, for a total value of $452,360.00. Following the completion of the sale, the senior vice president now owns 14,607 shares in the company, valued at $1,651,905.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Lisa A. Muschong sold 700 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $110.41, for a total value of $77,287.00. Following the transaction, the vice president now directly owns 5,455 shares of the company’s stock, valued at $602,286.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joann Chavez sold 4,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $113.09, for a total transaction of $452,360.00. Following the completion of the transaction, the senior vice president now directly owns 14,607 shares in the company, valued at $1,651,905.63. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $111.43 on Friday. DTE Energy has a 12 month low of $100.64 and a 12 month high of $136.77. The firm has a fifty day simple moving average of $76.66 and a 200 day simple moving average of $70.00. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.00 and a beta of 0.60. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 1.66.

DTE Energy (NYSE:DTE – Get Rating) last announced its earnings results on Thursday, April 27th. The utilities provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.05). The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $4.79 billion. DTE Energy had a return on equity of 10.59% and a net margin of 6.15%. During the same quarter in the previous year, the company posted $2.31 EPS. Research analysts forecast that DTE Energy will post 6.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Monday, June 19th will be paid a $0.9525 dividend. This represents a $3.81 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, June 15th. DTE Energy’s dividend payout ratio is currently 67.43%.

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.