DTE Energy (NYSE:DTE) Shares Sold by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC cut its holdings in shares of DTE Energy (NYSE:DTE) by 34.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,347 shares of the utilities provider’s stock after selling 1,250 shares during the period. Redwood Wealth Management Group LLC’s holdings in DTE Energy were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. ESL Trust Services LLC purchased a new position in shares of DTE Energy during the 1st quarter valued at about $27,000. Rise Advisors LLC grew its holdings in DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares during the period. Ridgewood Investments LLC purchased a new position in DTE Energy during the second quarter valued at approximately $31,000. Denali Advisors LLC acquired a new position in DTE Energy in the first quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC boosted its position in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 195 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE DTE opened at $125.95 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The stock’s 50 day simple moving average is $120.40 and its 200-day simple moving average is $114.49. The company has a market cap of $26.06 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. DTE Energy has a 1-year low of $90.14 and a 1-year high of $127.59.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the firm posted $0.99 EPS. As a group, equities research analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.24%. DTE Energy’s dividend payout ratio is presently 66.78%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DTE. Wells Fargo & Company lifted their target price on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Scotiabank lifted their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Mizuho increased their target price on shares of DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, LADENBURG THALM/SH SH started coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $127.17.

About DTE Energy

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.