Principal Financial Group Inc. Sells 14,252 Shares of DTE Energy Company $DTE

Principal Financial Group Inc. reduced its position in DTE Energy Company (NYSE:DTE) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 249,995 shares of the utilities provider’s stock after selling 14,252 shares during the quarter. Principal Financial Group Inc. owned 0.12% of DTE Energy worth $35,357,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. AE Wealth Management LLC lifted its holdings in DTE Energy by 5.0% during the third quarter. AE Wealth Management LLC now owns 118,521 shares of the utilities provider’s stock worth $16,762,000 after buying an additional 5,658 shares during the period. CWM LLC raised its position in shares of DTE Energy by 50.5% in the 3rd quarter. CWM LLC now owns 35,893 shares of the utilities provider’s stock worth $5,076,000 after acquiring an additional 12,045 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of DTE Energy during the 3rd quarter worth $16,723,000. Bogart Wealth LLC boosted its position in DTE Energy by 49,181.8% during the third quarter. Bogart Wealth LLC now owns 54,210 shares of the utilities provider’s stock valued at $7,667,000 after purchasing an additional 54,100 shares in the last quarter. Finally, Carnegie Investment Counsel grew its stake in DTE Energy by 175.8% in the third quarter. Carnegie Investment Counsel now owns 12,250 shares of the utilities provider’s stock valued at $1,733,000 after purchasing an additional 7,808 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE opened at $136.11 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.15 and a quick ratio of 0.68. The company’s fifty day moving average price is $131.87 and its 200-day moving average price is $136.12. DTE Energy Company has a 1-year low of $121.44 and a 1-year high of $143.79. The firm has a market capitalization of $28.27 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.49 and a beta of 0.49.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be paid a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, March 16th. DTE Energy’s dividend payout ratio (DPR) is presently 69.97%.

Analyst Ratings Changes

A number of analysts have recently weighed in on DTE shares. UBS Group lowered their price target on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b-)” rating on shares of DTE Energy in a research note on Wednesday, January 21st. BMO Capital Markets reduced their price target on DTE Energy from $151.00 to $148.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 24th. Mizuho increased their price objective on DTE Energy from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Barclays dropped their target price on DTE Energy from $148.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.69.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.