Glenmede Trust Co. NA Sells 31,610 Shares of DTE Energy Company $DTE

Glenmede Trust Co. NA lowered its holdings in shares of DTE Energy Company (NYSE:DTE) by 21.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 116,607 shares of the utilities provider’s stock after selling 31,610 shares during the quarter. Glenmede Trust Co. NA’s holdings in DTE Energy were worth $17,050,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. WNY Asset Management LLC bought a new stake in DTE Energy in the first quarter worth $2,064,000. Western Wealth Management LLC bought a new position in shares of DTE Energy during the first quarter valued at about $89,000. Bank of America Corp DE grew its stake in shares of DTE Energy by 17.1% during the first quarter. Bank of America Corp DE now owns 1,718,225 shares of the utilities provider’s stock valued at $251,239,000 after buying an additional 250,628 shares during the last quarter. Kentucky Retirement Systems increased its holdings in shares of DTE Energy by 12.2% in the first quarter. Kentucky Retirement Systems now owns 14,597 shares of the utilities provider’s stock worth $2,134,000 after buying an additional 1,588 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of DTE Energy by 1.3% in the first quarter. Janus Henderson Group PLC now owns 3,084,544 shares of the utilities provider’s stock worth $451,022,000 after buying an additional 40,346 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.2%

DTE stock opened at $141.94 on Friday. DTE Energy Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74. The company has a market capitalization of $29.54 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38. The business’s 50 day moving average price is $147.60 and its two-hundred day moving average price is $144.78. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.69 and a current ratio of 0.80.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the business posted $1.36 EPS. As a group, analysts forecast that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.3%. DTE Energy’s dividend payout ratio (DPR) is currently 73.73%.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $143.72, for a total value of $143,720.00. Following the sale, the vice president directly owned 6,233 shares of the company’s stock, valued at $895,806.76. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DTE. Barclays lowered their target price on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Jefferies Financial Group set a $172.00 price target on DTE Energy in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Bank of America reiterated a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.46.

DTE Energy Company Profile

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.