Wedge Capital Management L L P NC Cuts Stock Holdings in DTE Energy Company $DTE

Wedge Capital Management L L P NC lowered its position in DTE Energy Company (NYSE:DTE) by 16.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,812 shares of the utilities provider’s stock after selling 19,525 shares during the period. Wedge Capital Management L L P NC’s holdings in DTE Energy were worth $15,056,000 as of its most recent filing with the Securities & Exchange Commission.

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

DTE Energy Trading Up 0.5%

NYSE:DTE opened at $138.37 on Thursday. The company has a market capitalization of $28.79 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 3.01 and a beta of 0.38. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 52-week low of $126.23 and a 52-week high of $155.74. The stock has a fifty day simple moving average of $146.99 and a 200-day simple moving average of $145.13.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the prior year, the company earned $1.36 EPS. On average, equities research analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s dividend payout ratio is 73.73%.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. JPMorgan Chase & Co. upped their price target on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a report on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Finally, Mizuho dropped their target price on shares of DTE Energy from $165.00 to $164.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.62.

DTE Energy 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.