Dai ichi Life Insurance Company Ltd Buys 31,000 Shares of DTE Energy (NYSE:DTE)

Dai ichi Life Insurance Company Ltd boosted its stake in shares of DTE Energy (NYSE:DTE) by 146.6% in the second quarter, Holdings Channel reports. The institutional investor owned 52,141 shares of the utilities provider’s stock after purchasing an additional 31,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in DTE Energy were worth $5,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. Janus Henderson Group PLC increased its position in DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after buying an additional 2,060,762 shares in the last quarter. Clearbridge Investments LLC increased its position in DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after buying an additional 1,756,459 shares in the last quarter. Point72 Asset Management L.P. bought a new position in DTE Energy during the 4th quarter valued at approximately $74,478,000. Capital Research Global Investors boosted its stake in DTE Energy by 1.9% during the 4th quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after purchasing an additional 399,646 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in DTE Energy by 109.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock valued at $61,202,000 after purchasing an additional 289,663 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DTE. KeyCorp increased their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley increased their target price on DTE Energy from $114.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Scotiabank increased their target price on DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their target price on DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Finally, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research note on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target 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. According to data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $125.95 on Friday. DTE Energy has a one year low of $90.14 and a one year high of $127.59. The stock’s fifty day moving average is $120.40 and its 200 day moving average is $114.45. The stock has a market cap of $26.06 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.28 and a beta of 0.67. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm earned $0.99 EPS. Sell-side analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

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 dividend on an annualized basis and a yield of 3.24%. DTE Energy’s dividend payout ratio 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.