Royal London Asset Management Ltd. Sells 5,758 Shares of DTE Energy Company $DTE

Royal London Asset Management Ltd. lessened its holdings in DTE Energy Company (NYSE:DTE) by 22.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,951 shares of the utilities provider’s stock after selling 5,758 shares during the quarter. Royal London Asset Management Ltd.’s holdings in DTE Energy were worth $3,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of DTE Energy during the 2nd quarter valued at about $3,915,284,000. Jupiter Topco LLC acquired a new position in DTE Energy in the second quarter worth about $477,264,000. Bank of America Corp DE bought a new position in DTE Energy during the second quarter worth about $417,001,000. Millennium Management LLC lifted its stake in DTE Energy by 227.4% during the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after purchasing an additional 1,895,631 shares during the period. Finally, Legal & General Group Plc acquired a new stake in DTE Energy during the second quarter valued at approximately $199,563,000. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DTE has been the topic of several analyst reports. Mizuho lowered their price objective on DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday, August 27th. Weiss Ratings upgraded DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. BMO Capital Markets cut their price objective on DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a report on Friday, August 28th. TD Cowen initiated coverage on shares of DTE Energy in a report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price on the stock. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research 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 given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

DTE Energy Trading Up 0.3%

DTE stock opened at $136.04 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The company has a market cap of $28.31 billion, a P/E ratio of 21.53, a PEG ratio of 2.95 and a beta of 0.37. The business has a fifty day moving average of $144.49 and a 200-day moving average of $145.33.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the firm earned $1.36 EPS. As a group, equities research analysts expect that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy’s dividend payout ratio is presently 73.73%.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.