1832 Asset Management L.P. Lowers Stock Holdings in DTE Energy Company $DTE

Key Points

• 1832 Asset Management L.P. has decreased its position in DTE Energy by 23.8%, owning 13,466 shares after selling 4,209 shares recently, with holdings valued at $1,862,000.
• DTE Energy reported earnings of $1.36 per share, missing estimates by $0.01, and generated revenue of $2.91 billion versus expectations of $2.67 billion.
• The company announced a quarterly dividend of $1.09 per share, yielding 3.1%, with an ex-dividend date set for September 15th.

1832 Asset Management L.P. decreased its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 23.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,466 shares of the utilities provider's stock after selling 4,209 shares during the period. 1832 Asset Management L.P.'s holdings in DTE Energy were worth $1,862,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DTE. Dimensional Fund Advisors LP grew its stake in shares of DTE Energy by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 752,776 shares of the utilities provider's stock valued at $90,897,000 after buying an additional 15,342 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of DTE Energy by 1.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 306,523 shares of the utilities provider's stock valued at $37,013,000 after purchasing an additional 4,427 shares during the period. MGO One Seven LLC purchased a new position in DTE Energy during the fourth quarter valued at $338,000. Integrated Wealth Concepts LLC lifted its position in DTE Energy by 12.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,340 shares of the utilities provider's stock valued at $524,000 after buying an additional 491 shares during the period. Finally, Prosperity Consulting Group LLC lifted its position in DTE Energy by 3.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 7,065 shares of the utilities provider's stock valued at $853,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $138.4890 on Tuesday. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The firm has a market cap of $28.75 billion, a P/E ratio of 19.93, a PEG ratio of 2.78 and a beta of 0.42. The company has a 50 day moving average of $135.96 and a 200 day moving average of $134.54. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.72% and a net margin of 10.16%.The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. As a group, research analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 62.73%.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction that occurred 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 owned 4,153 shares of the company's stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on DTE. Wells Fargo & Company raised their price objective on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Monday. BMO Capital Markets lifted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, Barclays lifted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.43.

About DTE Energy

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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.