Strategic Advisors LLC Sells 46,481 Shares of DTE Energy Company $DTE

Strategic Advisors LLC cut its stake in shares of DTE Energy Company (NYSE:DTE) by 95.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,214 shares of the utilities provider’s stock after selling 46,481 shares during the quarter. Strategic Advisors LLC’s holdings in DTE Energy were worth $337,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of DTE. Convergence Investment Partners LLC bought a new stake in shares of DTE Energy during the first quarter valued at approximately $3,142,000. Louisiana State Employees Retirement System bought a new position in shares of DTE Energy in the 1st quarter worth $1,550,000. OMERS ADMINISTRATION Corp bought a new position in shares of DTE Energy in the 2nd quarter worth $2,236,000. Capital Innovations LLC acquired a new stake in DTE Energy in the 4th quarter valued at $1,014,000. Finally, Callan Family Office LLC acquired a new stake in DTE Energy in the 2nd quarter valued at $1,438,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Down 0.1%

Shares of DTE Energy stock opened at $135.75 on Monday. The stock has a fifty day simple moving average of $144.97 and a 200 day simple moving average of $145.37. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a market capitalization of $28.25 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same period last year, the business earned $1.36 EPS. On average, sell-side analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.4%. DTE Energy’s payout ratio is 73.73%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen began coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target for the company. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. BMO Capital Markets reduced their price objective on shares of DTE Energy from $150.00 to $143.00 and set a “market perform” rating for the company in a report on Friday. Barclays decreased their target price on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Finally, Truist Financial lowered their target price on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.00.

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.