Alliancebernstein L.P. Lowers Stake in DTE Energy Company $DTE

Key Points

• Alliancebernstein L.P. has decreased its stake in DTE Energy Company by 2.4%, owning 294,439 shares valued at approximately $40.7 million after selling 7,366 shares during the 1st quarter.
• In recent stock analyst reports, DTE Energy received a range of price targets, with Citigroup raising its target from $142 to $151, while Morgan Stanley set a target at $140.
• DTE Energy announced a quarterly dividend of $1.09 per share, representing an annualized yield of 3.2%, with the ex-dividend date being September 15th.

Alliancebernstein L.P. cut its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,439 shares of the utilities provider's stock after selling 7,366 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of DTE Energy worth $40,712,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTE. Captrust Financial Advisors increased its stake in DTE Energy by 57.1% in the 4th quarter. Captrust Financial Advisors now owns 17,339 shares of the utilities provider's stock valued at $2,094,000 after buying an additional 6,301 shares during the last quarter. Cetera Investment Advisers increased its stake in DTE Energy by 2.1% in the 4th quarter. Cetera Investment Advisers now owns 30,038 shares of the utilities provider's stock valued at $3,627,000 after buying an additional 622 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in DTE Energy by 1,064.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 91,671 shares of the utilities provider's stock valued at $11,069,000 after buying an additional 83,799 shares during the last quarter. Ethic Inc. purchased a new stake in DTE Energy in the 4th quarter valued at about $784,000. Finally, Focus Partners Wealth increased its stake in DTE Energy by 13.4% in the 4th quarter. Focus Partners Wealth now owns 175,530 shares of the utilities provider's stock valued at $21,212,000 after buying an additional 20,791 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the 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 sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. This represents 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 owned by corporate insiders.

DTE Energy Stock Performance

DTE traded down $0.02 on Friday, hitting $136.74. The company's stock had a trading volume of 940,281 shares, compared to its average volume of 907,431. The company's 50 day simple moving average is $137.23 and its 200-day simple moving average is $135.18. The firm has a market cap of $28.39 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $142.05. 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 released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Analysts forecast that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays increased their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reissued a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets increased their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.25.

DTE Energy Company 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.