Bar Harbor Wealth Management Has $252,000 Stock Position in DTE Energy (NYSE:DTE)

Bar Harbor Wealth Management lowered its position in shares of DTE Energy (NYSE:DTEGet Rating) by 9.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,992 shares of the utilities provider’s stock after selling 198 shares during the quarter. Bar Harbor Wealth Management’s holdings in DTE Energy were worth $252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prospera Financial Services Inc acquired a new stake in shares of DTE Energy during the first quarter worth $83,000. CIBC Asset Management Inc lifted its holdings in shares of DTE Energy by 1.0% during the first quarter. CIBC Asset Management Inc now owns 18,586 shares of the utilities provider’s stock worth $2,457,000 after buying an additional 187 shares in the last quarter. Gradient Investments LLC increased its position in shares of DTE Energy by 7.7% in the second quarter. Gradient Investments LLC now owns 3,231 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 232 shares during the period. Charter Oak Capital Management LLC bought a new position in shares of DTE Energy in the second quarter worth $39,000. Finally, State of Tennessee Treasury Department increased its position in shares of DTE Energy by 25.2% in the first quarter. State of Tennessee Treasury Department now owns 102,310 shares of the utilities provider’s stock worth $13,527,000 after purchasing an additional 20,583 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DTE shares. Citigroup decreased their price target on DTE Energy from $146.00 to $139.00 in a research report on Friday, October 28th. Wells Fargo & Company decreased their price target on DTE Energy from $147.00 to $128.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Guggenheim decreased their price target on DTE Energy from $145.00 to $122.00 in a research report on Monday, October 24th. TheStreet cut DTE Energy from a “b” rating to a “c+” rating in a research report on Thursday, October 6th. Finally, Credit Suisse Group raised their price target on DTE Energy to $140.00 in a research report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.00.

DTE Energy Stock Performance

DTE Energy stock opened at $114.49 on Thursday. DTE Energy has a 12-month low of $100.64 and a 12-month high of $140.23. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 1.94. The business’s 50-day moving average price is $114.76 and its two-hundred day moving average price is $123.92. The stock has a market cap of $22.18 billion, a PE ratio of 19.81, a P/E/G ratio of 3.15 and a beta of 0.60.

DTE Energy (NYSE:DTEGet Rating) last released its quarterly earnings results on Thursday, October 27th. The utilities provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. DTE Energy had a return on equity of 12.90% and a net margin of 5.79%. During the same quarter in the previous year, the company earned $1.72 EPS. As a group, analysts expect that DTE Energy will post 6.02 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Monday, December 19th will be issued a dividend of $0.952 per share. This is a boost from DTE Energy’s previous quarterly dividend of $0.89. This represents a $3.81 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, December 16th. DTE Energy’s payout ratio is 61.25%.

About DTE Energy

(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.

See Also

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy (NYSE:DTEGet Rating).

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

Receive News & Ratings for DTE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy and related companies with MarketBeat.com's FREE daily email newsletter.