NewEdge Advisors LLC Sells 291,421 Shares of DTE Energy Company $DTE

NewEdge Advisors LLC trimmed its stake in DTE Energy Company (NYSE:DTE) by 78.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,820 shares of the utilities provider’s stock after selling 291,421 shares during the period. NewEdge Advisors LLC’s holdings in DTE Energy were worth $11,964,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in DTE Energy by 227.4% in the fourth quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after buying an additional 1,895,631 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of DTE Energy during the 4th quarter worth approximately $139,423,000. Cohen & Steers Inc. purchased a new position in shares of DTE Energy during the 4th quarter worth approximately $125,604,000. Vanguard Group Inc. raised its position in shares of DTE Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock worth $3,392,888,000 after acquiring an additional 766,499 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of DTE Energy by 176.5% in the 2nd quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider’s stock worth $134,474,000 after acquiring an additional 648,007 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DTE shares. BMO Capital Markets raised their target price on DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. Barclays decreased their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Bank of America reissued a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Finally, TD Cowen initiated coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They issued a “hold” rating and a $166.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.62.

DTE Energy Stock Performance

Shares of DTE opened at $140.00 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock has a market cap of $29.13 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.06 and a beta of 0.38. The business’s 50 day moving average price is $147.23 and its 200-day moving average price is $145.03. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during 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 last year, the company earned $1.36 EPS. Equities research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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

Insider Activity

In other news, VP Lisa A. Muschong sold 1,000 shares of DTE Energy stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the completion of the transaction, the vice president owned 6,233 shares of the company’s stock, valued at $895,806.76. The trade was a 13.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.