Continuum Advisory LLC Lowers Position in DTE Energy Company (NYSE:DTE)

Continuum Advisory LLC cut its holdings in DTE Energy Company (NYSE:DTE) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,333 shares of the utilities provider’s stock after selling 110 shares during the quarter. Continuum Advisory LLC’s holdings in DTE Energy were worth $184,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new stake in DTE Energy in the fourth quarter worth about $38,000. Bank of New Hampshire purchased a new stake in shares of DTE Energy during the first quarter valued at about $55,000. Colonial Trust Co SC lifted its position in shares of DTE Energy by 1,266.7% during the fourth quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider’s stock valued at $79,000 after buying an additional 608 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of DTE Energy during the fourth quarter valued at about $87,000. Finally, Optiver Holding B.V. lifted its position in shares of DTE Energy by 82.1% during the fourth quarter. Optiver Holding B.V. now owns 785 shares of the utilities provider’s stock valued at $95,000 after buying an additional 354 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup reissued a “buy” rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Evercore ISI increased their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Wells Fargo & Company increased their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Finally, Guggenheim increased their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.93.

DTE Energy Stock Down 0.5%

DTE stock opened at $133.35 on Wednesday. The firm’s fifty day simple moving average is $135.08 and its 200-day simple moving average is $129.65. The company has a market capitalization of $27.67 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.43 and a beta of 0.45. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. DTE Energy Company has a 12 month low of $108.40 and a 12 month high of $140.39.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. During the same period in the prior year, the firm earned $1.67 EPS. As a group, equities research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Monday, September 15th. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

About DTE Energy

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.