Arvest Investments Inc. Has $1.40 Million Holdings in DTE Energy Company $DTE

Arvest Investments Inc. lowered its position in shares of DTE Energy Company (NYSE:DTE) by 25.4% during the second quarter, Holdings Channel reports. The fund owned 10,571 shares of the utilities provider’s stock after selling 3,592 shares during the quarter. Arvest Investments Inc.’s holdings in DTE Energy were worth $1,400,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in DTE Energy by 14,878.4% in the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider’s stock valued at $163,655,000 after buying an additional 1,175,689 shares during the period. Goldman Sachs Group Inc. increased its stake in DTE Energy by 65.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock valued at $223,019,000 after buying an additional 637,378 shares during the period. JPMorgan Chase & Co. increased its stake in DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after buying an additional 512,567 shares during the period. Nuveen LLC acquired a new position in DTE Energy in the 1st quarter valued at approximately $67,315,000. Finally, The Manufacturers Life Insurance Company increased its stake in DTE Energy by 44.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider’s stock valued at $99,722,000 after buying an additional 222,894 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE:DTE opened at $136.74 on Friday. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The firm’s fifty day simple moving average is $137.23 and its 200 day simple moving average is $135.20. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $28.39 billion, a PE ratio of 19.67, a PEG ratio of 2.72 and a beta of 0.42.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, sell-side analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. DTE Energy’s dividend payout ratio is 62.73%.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares of the company’s stock, valued at $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Barclays upped their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. BMO Capital Markets boosted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a research report on Monday, August 25th. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, Citigroup reissued a “buy” rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.25.

DTE Energy Company 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.