ExodusPoint Capital Management LP Boosts Stake in DTE Energy by 52.4%
June 16, 2023
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On June 3, 2023, ExodusPoint Capital Management LP made a major move by significantly raising its stake in DTE ($NYSE:DTE) Energy stock by 52.4% during the fourth quarter. The company owns and operates two operating utilities: Detroit Edison and MichCon. Through these two subsidiaries, DTE Energy provides electricity, natural gas, and other energy-related products and services to businesses, homeowners, and industrial customers throughout Michigan.
The company has also been investing heavily in renewable energy initiatives such as wind and solar power to reduce its carbon footprint and promote sustainability. As a result, DTE Energy has seen a steady increase in its stock price in the past year, making it an attractive investment for many.
Analysis
GoodWhale recently conducted an analysis of DTE ENERGY‘s financials and classification in our Star Chart. DTE ENERGY was classified as a ‘cheetah’, indicating that the company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. We believe that this type of company may be of interest to certain investor types. Our analysis of DTE ENERGY reveals that it is strong in dividend and medium in asset, growth, and profitability. Furthermore, its intermediate health score of 4/10, taking into account its cashflows and debt, suggests it is likely to safely ride out any crisis without the risk of bankruptcy. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dte Energy. More…
| Total Revenues | Net Income | Net Margin |
| 18.43k | 1.13k | 6.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dte Energy. More…
| Operations | Investing | Financing |
| 2.09k | -3.63k | 1.52k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dte Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 42.52k | 31.87k | 51.63 |
Key Ratios Snapshot
Some of the financial key ratios for Dte Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.8% | 2.8% | 10.4% |
| FCF Margin | ROE | ROA |
| -7.9% | 11.3% | 2.8% |
Peers
The company operates through two segments: Electric and Gas. The Electric segment generates, purchases, distributes, and sells electricity to residential, commercial, and industrial customers in southeastern Michigan. The Gas segment purchases, transports, stores, distributes, and sells natural gas to residential, commercial, and industrial customers in Michigan. As of December 31, 2018, DTE Energy Co operated 10 coal-fired generating stations with a total capacity of 6,879 megawatts; 29 natural gas-fired generating stations with a total capacity of 4,473 megawatts; 71 wind turbines with a total capacity of 132 megawatts; 7 solar arrays with a total capacity of 35 megawatts; and 1 nuclear power plant with a total capacity of 1,944 megawatts. The company’s competitors include CMS Energy Corp, OGE Energy Corp, and Xcel Energy Inc.
– CMS Energy Corp ($NYSE:CMS)
CMS Energy Corporation is an American utility company based in Jackson, Michigan, with its principal subsidiary, Consumers Energy, serving Michigan. CMS Energy also owns and operates two power generation businesses, one in Michigan and one in Hawaii.
The company has a market capitalization of $16.81 billion as of 2022 and a return on equity of 12.15%. CMS Energy is engaged in the generation, transmission, and distribution of electricity and natural gas. The company also owns and operates power generation facilities in Michigan and Hawaii.
– OGE Energy Corp ($NYSE:OGE)
Duke Energy Corp is a publicly traded electric power holding company in the United States. The company has a market capitalization of $73.9 billion as of March 2021 and a return on equity of 18.7%. Duke Energy is the largest electric power holding company in the United States, with regulated utilities in six states and a commercial businesses in 47 countries. The company’s regulated utility operations serve approximately 7.7 million electric customers in the Carolinas, Florida, Indiana, Ohio and Kentucky. Duke Energy’s commercial businesses include wholesale energy trading and marketing, natural gas pipelines, storage and gathering, and international energy assets.
– Xcel Energy Inc ($NASDAQ:XEL)
Xcel Energy Inc. is a publicly traded company that provides electricity and natural gas services in the United States and Canada. The company has a market capitalization of $35.77 billion as of 2022 and a return on equity of 9.4%. The company operates in eight states and serves more than 3.6 million customers. Xcel Energy is the largest provider of electricity in Colorado and the second-largest provider of electricity in Minnesota. The company also provides natural gas service in Colorado, Minnesota, and Wisconsin.
Summary
ExodusPoint Capital Management LP has recently taken a significant interest in DTE Energy, increasing their holdings by 52.4% in the fourth quarter of 2023. This shows a strong confidence in the company’s future performance and prospects for investors. Analysts are likely to be watching this stock closely to gauge the potential for growth and determine whether the stock is a good buy at current market prices.
DTE Energy’s financials, fundamentals, and industry trends should all be analyzed when determining whether to invest. Investors should also be aware of any news or developments that could affect the stock’s performance.
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