Founders Financial Securities LLC Purchases 255 Shares of DTE Energy (NYSE:DTE)

Founders Financial Securities LLC increased its position in DTE Energy (NYSE:DTE) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,411 shares of the utilities provider’s stock after purchasing an additional 255 shares during the period. Founders Financial Securities LLC’s holdings in DTE Energy were worth $823,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DTE. International Assets Investment Management LLC bought a new position in DTE Energy in the 4th quarter worth about $6,606,000. Merit Financial Group LLC raised its position in DTE Energy by 19.6% in the 4th quarter. Merit Financial Group LLC now owns 2,432 shares of the utilities provider’s stock worth $268,000 after buying an additional 399 shares during the last quarter. Private Advisor Group LLC raised its position in DTE Energy by 26.1% in the 4th quarter. Private Advisor Group LLC now owns 11,486 shares of the utilities provider’s stock worth $1,266,000 after buying an additional 2,380 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in DTE Energy in the 4th quarter worth about $273,000. Finally, Charles Schwab Investment Management Inc. raised its position in DTE Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,208,462 shares of the utilities provider’s stock worth $133,245,000 after buying an additional 27,611 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.6 %

DTE Energy stock opened at $126.32 on Thursday. The firm has a 50 day moving average of $118.35 and a 200 day moving average of $113.62. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.29 and a beta of 0.66. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period in the prior year, the firm posted $0.99 EPS. As a group, research analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The company 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. This represents a $4.08 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio is 66.78%.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a research report on Monday, July 15th. KeyCorp boosted their target price on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Morgan Stanley boosted their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Scotiabank upped their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Five equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

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.