DTE Energy Company (NYSE:DTE) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its holdings in shares of DTE Energy Company (NYSE:DTE) by 34.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,554 shares of the utilities provider’s stock after selling 16,377 shares during the period. Patton Albertson Miller Group LLC’s holdings in DTE Energy were worth $4,225,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Graypoint LLC grew its position in shares of DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider’s stock valued at $279,000 after acquiring an additional 74 shares during the period. Dynasty Wealth Management LLC grew its position in shares of DTE Energy by 84.7% during the 1st quarter. Dynasty Wealth Management LLC now owns 3,528 shares of the utilities provider’s stock valued at $488,000 after acquiring an additional 1,618 shares during the period. Legacy Capital Wealth Partners LLC acquired a new stake in shares of DTE Energy during the 1st quarter valued at about $207,000. Trust Investment Advisors acquired a new stake in shares of DTE Energy during the 1st quarter valued at about $223,000. Finally, Parcion Private Wealth LLC grew its position in shares of DTE Energy by 6.9% during the 1st quarter. Parcion Private Wealth LLC now owns 5,840 shares of the utilities provider’s stock valued at $807,000 after acquiring an additional 376 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DTE. BMO Capital Markets raised their target price on DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Evercore ISI lifted their price objective on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.53.

DTE Energy Stock Up 0.4%

DTE stock opened at $134.80 on Friday. The firm has a market cap of $27.97 billion, a PE ratio of 18.22, a PEG ratio of 2.29 and a beta of 0.44. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.59 and a current ratio of 0.87. DTE Energy Company has a one year low of $115.48 and a one year high of $140.39. The firm’s 50 day moving average price is $133.92 and its 200-day moving average price is $130.95.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.12. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. During the same quarter in the previous year, the company earned $1.67 earnings per share. On average, equities research analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy’s payout ratio is 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.