Cranbrook Wealth Management LLC Grows Position in DTE Energy (NYSE:DTE)

Cranbrook Wealth Management LLC grew its holdings in DTE Energy (NYSE:DTE) by 20.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,586 shares of the utilities provider’s stock after buying an additional 267 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in DTE Energy were worth $176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTE. Principal Securities Inc. purchased a new position in DTE Energy during the fourth quarter worth approximately $54,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of DTE Energy by 5.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,003 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 157 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of DTE Energy by 13.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,866 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 227 shares during the period. Kentucky Retirement Systems grew its holdings in shares of DTE Energy by 4.7% in the fourth quarter. Kentucky Retirement Systems now owns 16,496 shares of the utilities provider’s stock valued at $1,819,000 after purchasing an additional 738 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in DTE Energy by 4.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,345 shares of the utilities provider’s stock worth $810,000 after purchasing an additional 310 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DTE has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. BMO Capital Markets increased their price objective on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Wells Fargo & Company raised their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.58.

DTE Energy Stock Performance

NYSE DTE opened at $126.35 on Tuesday. 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 company has a market cap of $26.15 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.28 and a beta of 0.67. The stock has a 50-day moving average of $120.75 and a two-hundred day moving average of $114.62. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59.

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

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is currently 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.