Sequoia Financial Advisors LLC cut its stake in DTE Energy Co (NYSE:DTE) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,714 shares of the utilities provider’s stock after selling 965 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DTE Energy were worth $923,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of DTE. AlphaCore Capital LLC bought a new position in DTE Energy during the first quarter worth about $26,000. Sowa Financial Group Inc. bought a new position in DTE Energy during the fourth quarter worth about $27,000. Raab & Moskowitz Asset Management LLC bought a new position in DTE Energy during the fourth quarter worth about $31,000. Tarbox Family Office Inc. increased its position in DTE Energy by 567.6% during the fourth quarter. Tarbox Family Office Inc. now owns 247 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 210 shares during the period. Finally, Citizens Financial Group Inc RI increased its position in DTE Energy by 401.1% during the first quarter. Citizens Financial Group Inc RI now owns 436 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 349 shares during the period. 71.91% of the stock is currently owned by institutional investors.
Shares of DTE traded up $1.08 during mid-day trading on Friday, reaching $102.12. The company had a trading volume of 803,840 shares, compared to its average volume of 1,366,687. The company’s 50 day simple moving average is $101.17 and its 200 day simple moving average is $117.03. DTE Energy Co has a 1-year low of $71.21 and a 1-year high of $135.67. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.71 and a current ratio of 0.89. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.81 and a beta of 0.60.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). DTE Energy had a net margin of 9.10% and a return on equity of 9.82%. The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. As a group, equities analysts forecast that DTE Energy Co will post 6.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $1.013 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.97%. DTE Energy’s payout ratio is currently 64.29%.
In other news, CFO Peter B. Oleksiak sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $134.94, for a total value of $242,892.00. Following the sale, the chief financial officer now directly owns 49,034 shares in the company, valued at approximately $6,616,647.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joann Chavez sold 400 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $101.93, for a total transaction of $40,772.00. Following the completion of the sale, the senior vice president now owns 5,300 shares in the company, valued at $540,229. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
A number of equities analysts recently commented on the stock. Vertical Research assumed coverage on shares of DTE Energy in a research report on Monday, February 24th. They set a “hold” rating and a $143.00 price target on the stock. UBS Group lowered their price target on shares of DTE Energy from $150.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Morgan Stanley raised their price target on shares of DTE Energy from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, May 18th. TheStreet downgraded shares of DTE Energy from a “b-” rating to a “c+” rating in a research note on Thursday, April 2nd. Finally, Evercore ISI upgraded shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 price objective on the stock in a research note on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $125.92.
DTE Energy Company 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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