DTE Energy (NYSE:DTE) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its stake in shares of DTE Energy (NYSE:DTE) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,979 shares of the utilities provider’s stock after buying an additional 1,101 shares during the period. Truist Financial Corp’s holdings in DTE Energy were worth $2,344,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Beacon Capital Management Inc. acquired a new position in DTE Energy during the 3rd quarter valued at about $29,000. Mascoma Wealth Management LLC acquired a new position in shares of DTE Energy in the 3rd quarter worth approximately $33,000. Destiny Wealth Partners LLC acquired a new position in shares of DTE Energy in the 3rd quarter worth approximately $38,000. Samalin Investment Counsel LLC acquired a new position in shares of DTE Energy in the 2nd quarter worth approximately $45,000. Finally, Strategic Blueprint LLC acquired a new position in shares of DTE Energy in the 2nd quarter worth approximately $47,000. 72.22% of the stock is currently owned by hedge funds and other institutional investors.

NYSE DTE opened at $119.38 on Friday. DTE Energy has a 1-year low of $96.40 and a 1-year high of $122.14. The company has a current ratio of 1.02, a quick ratio of 0.75 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $23.13 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.37 and a beta of 0.68. The firm’s fifty day simple moving average is $115.49 and its 200-day simple moving average is $116.25.

DTE Energy (NYSE:DTE) last posted its earnings results on Tuesday, October 26th. The utilities provider reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.11). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.35 billion. DTE Energy had a return on equity of 12.12% and a net margin of 6.25%. During the same period in the previous year, the company earned $2.61 earnings per share. As a group, analysts predict that DTE Energy will post 5.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 15th. Shareholders of record on Monday, December 20th will be given a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a yield of 2.97%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, December 17th. DTE Energy’s dividend payout ratio is presently 78.32%.

In other DTE Energy news, SVP Joann Chavez sold 500 shares of the stock in a transaction on Thursday, December 2nd. The shares were sold at an average price of $110.78, for a total transaction of $55,390.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Several research analysts have recently weighed in on DTE shares. Wells Fargo & Company raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $124.00 to $123.00 in a research report on Wednesday, December 1st. Morgan Stanley raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $127.00 to $133.00 in a research note on Thursday, January 6th. JPMorgan Chase & Co. downgraded shares of DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 target price on the stock. in a research note on Friday, January 7th. Evercore ISI raised shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 target price on the stock in a research note on Friday, September 17th. Finally, Edward Jones raised shares of DTE Energy from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $128.30.

DTE Energy Profile

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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