DTE Energy Co (NYSE:DTE) Shares Sold by E&G Advisors LP

E&G Advisors LP lessened its holdings in shares of DTE Energy Co (NYSE:DTE) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,050 shares of the utilities provider’s stock after selling 600 shares during the period. E&G Advisors LP’s holdings in DTE Energy were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTE. Janus Henderson Group PLC boosted its holdings in DTE Energy by 23.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,334,039 shares of the utilities provider’s stock valued at $166,410,000 after purchasing an additional 252,418 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in DTE Energy by 17.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,293,401 shares of the utilities provider’s stock valued at $161,338,000 after purchasing an additional 194,255 shares during the last quarter. California Public Employees Retirement System boosted its holdings in DTE Energy by 18.0% in the 1st quarter. California Public Employees Retirement System now owns 1,125,041 shares of the utilities provider’s stock valued at $140,338,000 after purchasing an additional 171,768 shares during the last quarter. Geode Capital Management LLC boosted its holdings in DTE Energy by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock valued at $258,174,000 after purchasing an additional 150,611 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in DTE Energy by 70.9% in the 1st quarter. Acadian Asset Management LLC now owns 285,085 shares of the utilities provider’s stock valued at $35,563,000 after purchasing an additional 118,280 shares during the last quarter. 71.05% of the stock is owned by institutional investors.

In related news, Chairman Gerard M. Anderson sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the sale, the chairman now directly owns 80,406 shares of the company’s stock, valued at approximately $10,293,576.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on the stock. Bank of America decreased their target price on shares of DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. ValuEngine lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. KeyCorp assumed coverage on shares of DTE Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $136.00 price objective on the stock. Mizuho assumed coverage on shares of DTE Energy in a report on Monday, August 12th. They issued a “neutral” rating and a $131.00 price objective on the stock. Finally, Barclays restated a “hold” rating and issued a $131.00 price objective on shares of DTE Energy in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $126.36.

Shares of DTE stock opened at $128.39 on Friday. The firm’s 50 day moving average price is $129.31 and its 200-day moving average price is $125.97. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy Co has a one year low of $106.41 and a one year high of $132.09. The firm has a market cap of $23.75 billion, a P/E ratio of 20.38, a P/E/G ratio of 3.48 and a beta of 0.24.

DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.10). DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the company earned $1.36 earnings per share. As a group, research analysts predict that DTE Energy Co will post 6.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, September 13th. DTE Energy’s payout ratio is currently 60.00%.

About DTE Energy

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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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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