Allstate Corp Makes New Investment in DTE Energy Company $DTE

Allstate Corp bought a new position in shares of DTE Energy Company (NYSE:DTE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,642 shares of the utilities provider’s stock, valued at approximately $1,081,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates acquired a new position in DTE Energy during the 3rd quarter worth about $28,000. Clean Yield Group acquired a new stake in DTE Energy in the 3rd quarter valued at about $28,000. Capital A Wealth Management LLC raised its stake in shares of DTE Energy by 5,775.0% in the second quarter. Capital A Wealth Management LLC now owns 235 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 231 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of DTE Energy in the third quarter worth about $31,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of DTE Energy during the second quarter worth approximately $32,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $137.07 on Thursday. The stock’s fifty day simple moving average is $132.16 and its 200 day simple moving average is $136.00. The company has a current ratio of 1.15, a quick ratio of 0.68 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $28.47 billion, a PE ratio of 20.58, a PEG ratio of 2.49 and a beta of 0.49. DTE Energy Company has a 12 month low of $116.30 and a 12 month high of $143.79.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, October 30th. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.15. DTE Energy had a return on equity of 12.63% and a net margin of 9.34%.The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the company earned $2.22 earnings per share. DTE Energy has set its FY 2025 guidance at 7.090-7.230 EPS and its FY 2026 guidance at 7.590-7.730 EPS. On average, research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were paid a $1.165 dividend. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from DTE Energy’s previous quarterly dividend of $1.09. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. DTE Energy’s payout ratio is presently 69.97%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DTE. Jefferies Financial Group raised shares of DTE Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $150.00 in a research note on Thursday, December 11th. Barclays reduced their price objective on DTE Energy from $148.00 to $141.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, October 8th. BMO Capital Markets dropped their target price on DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a research report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. cut their price target on DTE Energy from $151.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.67.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.