Arizona State Retirement System Boosts Stake in DTE Energy (NYSE:DTE)

Arizona State Retirement System boosted its stake in DTE Energy (NYSE:DTE) by 0.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,841 shares of the utilities provider’s stock after buying an additional 110 shares during the quarter. Arizona State Retirement System’s holdings in DTE Energy were worth $6,310,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. purchased a new stake in DTE Energy in the 4th quarter valued at approximately $1,305,000. Intech Investment Management LLC lifted its stake in DTE Energy by 62.7% in 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 stake in 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 buying an additional 8,603 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in DTE Energy by 66.5% in the 4th quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock valued at $3,261,000 after buying an additional 11,809 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in DTE Energy by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock valued at $13,934,000 after buying an additional 11,218 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their price target on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America increased their price target on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank increased their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Barclays increased their price target on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.92.

DTE Energy Trading Down 0.4 %

Shares of DTE opened at $123.19 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $25.49 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The stock’s fifty day simple moving average is $118.84 and its 200 day simple moving average is $113.87. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.59.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results 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 return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm earned $0.99 EPS. On average, equities research analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.31%. DTE Energy’s dividend payout ratio is currently 66.78%.

DTE Energy Profile

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.