DTE Energy (NYSE:DTE) Shares Purchased by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC increased its holdings in shares of DTE Energy (NYSE:DTE) by 20.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Scotiabank raised their price target on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their price objective 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 shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company boosted their target price on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $127.58.

DTE Energy Trading Up 0.3 %

Shares of NYSE:DTE opened at $126.35 on Tuesday. The business’s 50 day moving average price is $120.75 and its 200-day moving average price is $114.62. DTE Energy has a 1 year low of $90.14 and a 1 year high of $127.59. The firm has a market capitalization of $26.15 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data 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 net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the firm posted $0.99 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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 annualized dividend and a yield of 3.23%. DTE Energy’s dividend payout ratio (DPR) 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.