Mediolanum International Funds Ltd has increased its stake in DTE Energy Company by 21.1% in the second quarter, according to a recent filing with the SEC. This boost adds to their existing ownership, bringing their total to 162,941 shares valued at approximately $21.4 million. The fund purchased an additional 28,382 shares during this period.
Other institutional investors have also made adjustments to their holdings in DTE Energy. Keybank National Association OH and Atria Investments each grew their stakes by 1.6% and 0.6%, respectively, in the same quarter. Northwestern Mutual Wealth Management Co. and Crestwood Advisors Group LLC have also increased their positions in the utility provider, while Financial Advisors Network Inc. similarly boosted their stake. Collectively, institutional investors and hedge funds now own 76.06% of DTE Energy’s stock.
As of Friday, DTE Energy’s shares opened at $135.69, reflecting modest trading activity. The stock has experienced a 52-week low of $116.30 and a high of $143.79. Currently, DTE Energy carries a market capitalization of $28.18 billion with a price-to-earnings ratio of 19.52. Its debt-to-equity ratio stands at 1.96, which indicates a balanced approach to financing its operations.
DTE Energy recently reported strong financial results for the quarter ending October 30, posting earnings per share (EPS) of $2.25, exceeding analysts’ expectations of $2.10. The company’s revenue reached $3.53 billion, significantly surpassing the anticipated $3.23 billion. For the upcoming fiscal years, DTE Energy has provided guidance with expected EPS figures showing positive growth.
In terms of market perception, several analysts have upgraded their ratings for DTE Energy. Wall Street Zen recently shifted its stance from “sell” to “hold,” while Barclays and UBS Group raised their price targets and maintained favorable ratings. As a result, DTE Energy currently holds a “Moderate Buy” rating among analysts, with an average price target of $149.17, suggesting optimism about the company’s future performance.
DTE Energy continues its focus on utility operations, providing electricity generation through a mix of traditional and renewable sources, including coal, nuclear, wind, and solar energy. As the company navigates its growth trajectory amid market adjustments, its strategic positioning within the utility sector remains pivotal.
This ongoing interest from both institutional investors and analysts highlights the potential for DTE Energy as it continues to adapt to the evolving energy landscape.