Hennessy Advisors Inc. Sells 6,700 Shares of DTE Energy Company $DTE

Hennessy Advisors Inc. cut its holdings in DTE Energy Company (NYSE:DTE) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,604 shares of the utilities provider’s stock after selling 6,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in DTE Energy were worth $6,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DTE. Wedge Capital Management L L P NC purchased a new position in shares of DTE Energy during the 3rd quarter worth approximately $16,723,000. Laurel Wealth Advisors LLC boosted its position in shares of DTE Energy by 13,146.2% during the second quarter. Laurel Wealth Advisors LLC now owns 25,830 shares of the utilities provider’s stock valued at $3,421,000 after purchasing an additional 25,635 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in DTE Energy in the first quarter worth $567,000. Nordea Investment Management AB raised its holdings in DTE Energy by 5.3% in the second quarter. Nordea Investment Management AB now owns 208,818 shares of the utilities provider’s stock worth $27,470,000 after purchasing an additional 10,586 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in DTE Energy in the second quarter worth $15,277,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $129.14 on Friday. DTE Energy Company has a twelve month low of $116.30 and a twelve month high of $143.79. The company has a market capitalization of $26.82 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49. The firm has a 50 day moving average of $133.66 and a 200 day moving average of $135.94. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 2.01.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, October 30th. The utilities provider reported $2.25 EPS for the quarter, beating the consensus estimate of $2.10 by $0.15. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.23 billion. DTE Energy had a return on equity of 12.63% and a net margin of 9.34%.During the same period last year, the business posted $2.22 EPS. DTE Energy has set its FY 2025 guidance at 7.090-7.230 EPS and its FY 2026 guidance at 7.590-7.730 EPS. As a group, equities research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be issued a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.09. DTE Energy’s dividend payout ratio is 69.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DTE. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Morgan Stanley set a $138.00 price objective on shares of DTE Energy in a research note on Tuesday, December 16th. Jefferies Financial Group upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $150.00 in a report on Thursday, December 11th. Bank of America lifted their target price on shares of DTE Energy from $153.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Barclays boosted their price target on DTE Energy from $138.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.33.

DTE Energy 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.