Adage Capital Partners GP L.L.C. Sells 179,400 Shares of DTE Energy Company $DTE

Adage Capital Partners GP L.L.C. lowered its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 92.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,112 shares of the utilities provider's stock after selling 179,400 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in DTE Energy were worth $1,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DTE. Cloud Capital Management LLC purchased a new position in shares of DTE Energy in the 1st quarter worth about $25,000. Olde Wealth Management LLC purchased a new position in shares of DTE Energy in the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DTE Energy in the 1st quarter worth about $28,000. SouthState Corp purchased a new position in shares of DTE Energy in the 1st quarter worth about $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of DTE Energy in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DTE shares. Barclays lifted their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. BMO Capital Markets lifted their price target on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Citigroup reaffirmed a "buy" rating and issued a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Finally, Morgan Stanley set a $140.00 target price on DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.25.

Insider Activity

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares in the company, valued at $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 available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy Stock Performance

NYSE:DTE traded down $0.02 during mid-day trading on Friday, reaching $136.74. The company's stock had a trading volume of 940,281 shares, compared to its average volume of 907,431. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $142.05. The firm's fifty day moving average price is $137.23 and its two-hundred day moving average price is $135.18. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The stock has a market cap of $28.39 billion, a P/E ratio of 19.67, a PEG ratio of 2.72 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results 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). The business had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. On average, equities analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is currently 62.73%.

DTE Energy Profile

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.