DTE Energy (NYSE:DTE) Shares Purchased by Morton Community Bank

Morton Community Bank increased its holdings in DTE Energy (NYSE:DTE) by 8.5% during the second quarter, Holdings Channel reports. The firm owned 27,994 shares of the utilities provider’s stock after purchasing an additional 2,184 shares during the period. Morton Community Bank’s holdings in DTE Energy were worth $3,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DTE. ESL Trust Services LLC bought a new stake in shares of DTE Energy during the 1st quarter worth $27,000. Rise Advisors LLC boosted its position in shares of DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 129 shares during the period. Ridgewood Investments LLC purchased a new position in DTE Energy in the 2nd quarter worth about $31,000. Denali Advisors LLC acquired a new stake in DTE Energy during the 1st quarter worth about $34,000. Finally, Salomon & Ludwin LLC lifted its stake in DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Down 0.4 %

DTE stock traded down $0.47 during trading hours on Friday, hitting $123.19. The company’s stock had a trading volume of 1,709,129 shares, compared to its average volume of 1,075,220. The stock has a 50 day moving average price of $118.84 and a two-hundred day moving average price of $113.84. DTE Energy has a 12 month low of $90.14 and a 12 month high of $127.59. The company has a market capitalization of $25.49 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping 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 firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities research analysts expect that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently announced 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 of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.31%. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DTE. Morgan Stanley lifted their target price on shares of DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Scotiabank boosted their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.92.

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.