Tortoise Capital Advisors L.L.C. Trims Holdings in DTE Energy Company $DTE

Tortoise Capital Advisors L.L.C. cut its holdings in DTE Energy Company (NYSE:DTE) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,666 shares of the utilities provider’s stock after selling 43,048 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in DTE Energy were worth $17,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norinchukin Bank The grew its position in DTE Energy by 16.2% during the 1st quarter. Norinchukin Bank The now owns 11,440 shares of the utilities provider’s stock valued at $1,582,000 after purchasing an additional 1,599 shares during the last quarter. CW Advisors LLC lifted its stake in DTE Energy by 11.4% during the 1st quarter. CW Advisors LLC now owns 5,049 shares of the utilities provider’s stock valued at $698,000 after acquiring an additional 515 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of DTE Energy by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 315,992 shares of the utilities provider’s stock worth $43,693,000 after purchasing an additional 9,469 shares during the period. Capital Fund Management S.A. lifted its stake in shares of DTE Energy by 57.4% in the 1st quarter. Capital Fund Management S.A. now owns 43,896 shares of the utilities provider’s stock worth $6,069,000 after purchasing an additional 16,013 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in DTE Energy during the 1st quarter worth approximately $374,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DTE. Wall Street Zen upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Morgan Stanley cut their target price on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company raised their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, Evercore ISI raised their price target on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy Price Performance

Shares of DTE stock opened at $140.2490 on Friday. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05. The firm has a market capitalization of $29.11 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The stock’s 50-day simple moving average is $135.75 and its 200-day simple moving average is $134.13.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.67 billion. As a group, equities analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. DTE Energy’s dividend payout ratio is currently 62.73%.

DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.