California State Teachers Retirement System Sells 6,963 Shares of DTE Energy Company $DTE

California State Teachers Retirement System cut its position in shares of DTE Energy Company (NYSE:DTE) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,448 shares of the utilities provider’s stock after selling 6,963 shares during the quarter. California State Teachers Retirement System’s holdings in DTE Energy were worth $35,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Oregon Public Employees Retirement Fund raised its holdings in DTE Energy by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,807 shares of the utilities provider’s stock valued at $3,481,000 after acquiring an additional 71 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of DTE Energy by 3.5% during the 1st quarter. Whittier Trust Co. now owns 2,220 shares of the utilities provider’s stock worth $328,000 after purchasing an additional 75 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of DTE Energy by 4.6% during the 4th quarter. Segment Wealth Management LLC now owns 1,744 shares of the utilities provider’s stock worth $225,000 after purchasing an additional 76 shares in the last quarter. Prosperity Consulting Group LLC increased its position in shares of DTE Energy by 1.2% during the first quarter. Prosperity Consulting Group LLC now owns 6,342 shares of the utilities provider’s stock valued at $927,000 after purchasing an additional 76 shares during the period. Finally, HM Payson & Co. increased its position in shares of DTE Energy by 23.6% during the fourth quarter. HM Payson & Co. now owns 419 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 80 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $143.72, for a total value of $143,720.00. Following the sale, the vice president owned 6,233 shares in the company, valued at approximately $895,806.76. The trade was a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DTE shares. Jefferies Financial Group set a $172.00 target price on DTE Energy in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Truist Financial reduced their price objective on shares of DTE Energy from $165.00 to $158.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

DTE Energy Trading Up 0.2%

Shares of DTE opened at $141.94 on Friday. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.69 and a debt-to-equity ratio of 2.13. The stock has a 50 day simple moving average of $147.60 and a 200-day simple moving average of $144.78. The stock has a market cap of $29.54 billion, a PE ratio of 22.46, a PEG ratio of 3.09 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter in the previous year, the firm earned $1.36 EPS. On average, sell-side analysts predict that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.3%. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

About DTE Energy

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.