Hartford Investment Management Co. trimmed its holdings in DTE Energy (NYSE:DTE – Get Rating) by 5.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,697 shares of the utilities provider’s stock after selling 1,148 shares during the period. Hartford Investment Management Co.’s holdings in DTE Energy were worth $2,472,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Xponance Inc. raised its holdings in shares of DTE Energy by 3.1% in the first quarter. Xponance Inc. now owns 12,553 shares of the utilities provider’s stock valued at $1,660,000 after buying an additional 373 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of DTE Energy by 600.0% in the first quarter. Denali Advisors LLC now owns 1,400 shares of the utilities provider’s stock valued at $185,000 after buying an additional 1,200 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of DTE Energy in the first quarter valued at about $404,000. Fifth Third Bancorp raised its holdings in shares of DTE Energy by 4.0% in the first quarter. Fifth Third Bancorp now owns 7,228 shares of the utilities provider’s stock valued at $956,000 after buying an additional 281 shares during the last quarter. Finally, Secure Asset Management LLC raised its holdings in shares of DTE Energy by 4.1% in the first quarter. Secure Asset Management LLC now owns 6,303 shares of the utilities provider’s stock valued at $833,000 after buying an additional 247 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
Shares of DTE opened at $129.16 on Friday. The firm’s 50-day moving average is $128.27 and its two-hundred day moving average is $125.49. The firm has a market capitalization of $25.02 billion, a P/E ratio of 27.78, a PEG ratio of 3.57 and a beta of 0.62. DTE Energy has a twelve month low of $108.22 and a twelve month high of $140.23. The company has a current ratio of 0.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.76.
DTE Energy (NYSE:DTE – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The utilities provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.06 by $0.25. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $3.53 billion. DTE Energy had a net margin of 5.59% and a return on equity of 13.58%. During the same period in the prior year, the business earned $2.44 earnings per share. Analysts predict that DTE Energy will post 6.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, September 19th will be given a $0.885 dividend. The ex-dividend date is Friday, September 16th. This represents a $3.54 annualized dividend and a dividend yield of 2.74%. DTE Energy’s dividend payout ratio is presently 76.13%.
A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of DTE Energy from $134.00 to $146.00 in a research note on Tuesday, May 3rd. Credit Suisse Group upgraded shares of DTE Energy from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $142.00 to $140.00 in a research note on Monday, May 23rd. StockNews.com assumed coverage on shares of DTE Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group lowered shares of DTE Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $136.00 to $133.00 in a research note on Friday, March 11th. Finally, Morgan Stanley dropped their price target on shares of DTE Energy from $143.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $130.91.
In related news, VP Lisa A. Muschong sold 600 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. Following the transaction, the vice president now owns 3,485 shares of the company’s stock, valued at $467,965.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.
DTE Energy Profile (Get Rating)
DTE Energy Company engages in the utility operations. The company’s Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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