DTE Energy Company $DTE Position Reduced by NewEdge Advisors LLC

NewEdge Advisors LLC trimmed its position in DTE Energy Company (NYSE:DTE) by 6.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,722 shares of the utilities provider’s stock after selling 5,098 shares during the period. NewEdge Advisors LLC’s holdings in DTE Energy were worth $11,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in DTE Energy by 27.5% during the second quarter. IFP Advisors Inc now owns 2,830 shares of the utilities provider’s stock valued at $431,000 after buying an additional 610 shares in the last quarter. Baird Financial Group Inc. grew its holdings in DTE Energy by 3.9% during the second quarter. Baird Financial Group Inc. now owns 33,781 shares of the utilities provider’s stock worth $5,147,000 after acquiring an additional 1,263 shares during the period. Allworth Financial LP raised its position in DTE Energy by 29.8% in the second quarter. Allworth Financial LP now owns 12,324 shares of the utilities provider’s stock worth $1,878,000 after acquiring an additional 2,828 shares in the last quarter. Arizona State Retirement System raised its position in DTE Energy by 5.7% in the second quarter. Arizona State Retirement System now owns 59,644 shares of the utilities provider’s stock worth $9,088,000 after acquiring an additional 3,200 shares in the last quarter. Finally, West Family Investments Inc. bought a new stake in DTE Energy in the second quarter worth about $648,000. 76.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DTE shares. Truist Financial reduced their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Mizuho dropped their target price on shares of DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a report on Thursday, August 27th. BMO Capital Markets cut their target price on shares of DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a research note on Friday, August 28th. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

DTE Energy Trading Down 1.4%

Shares of DTE opened at $132.51 on Friday. The business’s 50-day moving average price is $141.71 and its 200 day moving average price is $144.86. The stock has a market capitalization of $27.57 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.92 and a beta of 0.37. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. Analysts expect that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.5%. DTE Energy’s payout ratio is currently 73.73%.

Insider Activity at DTE Energy

In related news, Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the completion of the sale, the insider owned 73,122 shares in the company, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

About DTE Energy

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.