DTE Energy (NYSE:DTE) Shares Bought by Forsta AP Fonden

Forsta AP Fonden raised its holdings in DTE Energy (NYSE:DTE) by 14.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,600 shares of the utilities provider’s stock after acquiring an additional 7,100 shares during the period. Forsta AP Fonden’s holdings in DTE Energy were worth $6,061,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. ESL Trust Services LLC acquired a new stake in DTE Energy in the 1st quarter valued at about $27,000. Rise Advisors LLC increased its holdings in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of DTE Energy during the 2nd quarter worth approximately $31,000. Denali Advisors LLC acquired a new stake in shares of DTE Energy during the 1st quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of DTE Energy by 82.3% during the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Up 1.2 %

Shares of DTE opened at $125.95 on Friday. The stock has a market capitalization of $26.06 billion, a PE ratio of 20.61, a P/E/G ratio of 2.28 and a beta of 0.67. DTE Energy has a 1 year low of $90.14 and a 1 year high of $127.59. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The company’s 50-day simple moving average is $120.40 and its 200-day simple moving average is $114.45.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter in the prior year, the company earned $0.99 earnings per share. Analysts forecast that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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

Analysts Set New Price Targets

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

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.