Rehmann Capital Advisory Group trimmed its stake in DTE Energy Co (NYSE:DTE) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,588 shares of the utilities provider’s stock after selling 154 shares during the quarter. Rehmann Capital Advisory Group’s holdings in DTE Energy were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of DTE. Princeton Global Asset Management LLC acquired a new stake in shares of DTE Energy in the first quarter worth $737,000. Clearbridge Investments LLC grew its stake in shares of DTE Energy by 0.5% in the first quarter. Clearbridge Investments LLC now owns 259,602 shares of the utilities provider’s stock worth $32,383,000 after acquiring an additional 1,273 shares during the last quarter. Crabel Capital Management LLC acquired a new stake in shares of DTE Energy in the first quarter worth $243,000. Peddock Capital Advisors LLC grew its stake in shares of DTE Energy by 3.2% in the first quarter. Peddock Capital Advisors LLC now owns 4,737 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 145 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its stake in shares of DTE Energy by 15.2% in the first quarter. Magellan Asset Management Ltd now owns 143,600 shares of the utilities provider’s stock worth $17,913,000 after acquiring an additional 18,912 shares during the last quarter. 70.49% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. UBS Group restated a “buy” rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Bank of America reaffirmed a “buy” rating and issued a $25.00 target price on shares of Infineon Technologies in a research report on Monday, June 3rd. Barclays reaffirmed a “hold” rating and issued a $14.00 target price on shares of MACOM Technology Solutions in a research report on Thursday, June 20th. Credit Suisse Group set a $199.00 target price on NextEra Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. DTE Energy has a consensus rating of “Hold” and an average price target of $123.31.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $2.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.10. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.77 billion. DTE Energy had a return on equity of 10.99% and a net margin of 8.30%. During the same period last year, the company earned $1.91 earnings per share. Equities analysts predict that DTE Energy Co will post 6.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a $0.945 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.78 dividend on an annualized basis and a yield of 2.90%. DTE Energy’s payout ratio is 60.00%.
In other news, VP Lisa A. Muschong sold 237 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $128.86, for a total transaction of $30,539.82. Following the completion of the transaction, the vice president now directly owns 2,100 shares in the company, valued at approximately $270,606. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $127.84, for a total value of $1,278,400.00. Following the transaction, the insider now owns 6,700 shares of the company’s stock, valued at $856,528. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,737 shares of company stock valued at $2,744,715. Corporate insiders own 0.55% of the company’s stock.
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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