Credit Suisse AG Has $15.41 Million Stock Position in DTE Energy (NYSE:DTE)

Posted by Defense World Staff on Aug 25th, 2023

Credit Suisse AG raised its holdings in DTE Energy (NYSE:DTE – Free Report) by 10.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 140,672 shares of the utilities provider’s stock after acquiring an additional 13,309 shares during the quarter. Credit Suisse AG owned approximately 0.07% of DTE Energy worth $15,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Oregon Public Employees Retirement Fund boosted its stake in shares of DTE Energy by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,962 shares of the utilities provider’s stock valued at $1,639,000 after purchasing an additional 89 shares during the last quarter. Glassman Wealth Services boosted its stake in shares of DTE Energy by 10.5% in the 4th quarter. Glassman Wealth Services now owns 980 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 93 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of DTE Energy by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,844 shares of the utilities provider’s stock valued at $3,598,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of DTE Energy by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the utilities provider’s stock valued at $1,380,000 after purchasing an additional 100 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of DTE Energy by 0.7% in the 1st quarter. Larson Financial Group LLC now owns 14,088 shares of the utilities provider’s stock valued at $1,543,000 after purchasing an additional 103 shares during the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Guggenheim reduced their price objective on shares of DTE Energy from $127.00 to $120.00 in a research note on Friday, July 7th. Barclays initiated coverage on shares of DTE Energy in a research note on Wednesday. They issued an “overweight” rating and a $117.00 price objective on the stock. Mizuho raised their price target on shares of DTE Energy from $119.00 to $121.00 in a report on Thursday, July 13th. BMO Capital Markets raised their price target on shares of DTE Energy from $121.00 to $122.00 in a report on Thursday, July 13th. Finally, UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $129.00 to $124.00 in a report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and six 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 price target of $87.07.

Get Our Latest Stock Analysis on DTE

DTE Energy Stock Down 0.8 %

Shares of NYSE DTE opened at $104.46 on Friday. The stock has a market capitalization of $21.54 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.83 and a beta of 0.59. The company has a 50-day moving average price of $110.40 and a 200-day moving average price of $87.14. DTE Energy has a 1 year low of $100.64 and a 1 year high of $136.63. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.89 and a quick ratio of 0.63.

DTE Energy (NYSE:DTE – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $4.04 billion. DTE Energy had a net margin of 8.02% and a return on equity of 10.44%. During the same period last year, the company earned $0.88 earnings per share. On average, equities research analysts forecast that DTE Energy will post 6.18 EPS for the current fiscal year.

DTE Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be given a dividend of $0.952 per share. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Friday, September 15th. DTE Energy’s payout ratio is currently 59.25%.

Insider Activity at DTE Energy

In related news, SVP Joann Chavez sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $113.53, for a total transaction of $283,825.00. Following the transaction, the senior vice president now directly owns 12,107 shares of the company’s stock, valued at $1,374,507.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DTE Energy news, VP Lisa A. Muschong sold 700 shares of DTE Energy 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 sale, the vice president now owns 5,455 shares of the company’s stock, valued at $602,286.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 2,500 shares of DTE Energy stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $113.53, for a total transaction of $283,825.00. Following the completion of the sale, the senior vice president now directly owns 12,107 shares in the company, valued at approximately $1,374,507.71. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

About DTE Energy

(Free Report)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.