Columbia Asset Management Sells 1,669 Shares of DTE Energy (NYSE:DTE)

Columbia Asset Management lessened its stake in shares of DTE Energy (NYSE:DTE) by 12.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 12,146 shares of the utilities provider’s stock after selling 1,669 shares during the period. Columbia Asset Management’s holdings in DTE Energy were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DTE. Grayhawk Investment Strategies Inc. purchased a new position in shares of DTE Energy during the 4th quarter valued at about $1,305,000. Intech Investment Management LLC increased its stake in shares of DTE Energy by 62.7% in the fourth quarter. Intech Investment Management LLC now owns 26,421 shares of the utilities provider’s stock worth $2,913,000 after purchasing an additional 10,180 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock valued at $1,202,000 after purchasing an additional 8,603 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of DTE Energy by 66.5% during the 4th quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock valued at $3,261,000 after buying an additional 11,809 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in DTE Energy by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock worth $13,934,000 after buying an additional 11,218 shares during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $123.63 on Friday. The company has a fifty day simple moving average of $118.60 and a two-hundred day simple moving average of $113.69. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.59. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $25.58 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.66.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business posted $0.99 earnings per share. Analysts anticipate that DTE Energy will post 6.7 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 Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DTE shares. Barclays raised their price target on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. KeyCorp upped their price target on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective for the company. Finally, Bank of America boosted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $124.92.

DTE Energy Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.