Choreo LLC Purchases 3,000 Shares of DTE Energy (NYSE:DTE)

Choreo LLC increased its position in shares of DTE Energy (NYSE:DTE) by 57.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,213 shares of the utilities provider’s stock after purchasing an additional 3,000 shares during the period. Choreo LLC’s holdings in DTE Energy were worth $897,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. purchased a new position in DTE Energy during the 4th quarter valued at approximately $1,305,000. Intech Investment Management LLC raised its position in shares of DTE Energy by 62.7% during the 4th quarter. Intech Investment Management LLC now owns 26,421 shares of the utilities provider’s stock valued at $2,913,000 after buying an additional 10,180 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of DTE Energy by 407.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after acquiring an additional 8,603 shares during the last quarter. Allianz Asset Management GmbH grew its position in DTE Energy by 66.5% in the fourth quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock worth $3,261,000 after acquiring an additional 11,809 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in DTE Energy by 9.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after acquiring an additional 11,218 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DTE. LADENBURG THALM/SH SH began coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective for the company. Morgan Stanley boosted their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their price target on DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Bank of America boosted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays lifted their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $127.17.

DTE Energy Stock Performance

NYSE DTE opened at $125.95 on Friday. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59. The company has a market capitalization of $26.06 billion, a P/E ratio of 20.61, a PEG ratio of 2.28 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The business has a 50 day moving average price of $120.40 and a 200 day moving average price of $114.40.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm posted $0.99 earnings per share. Sell-side analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

About DTE Energy

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