Allspring Global Investments Holdings LLC decreased its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,487 shares of the utilities provider's stock after selling 4,038 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of DTE Energy worth $20,341,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of DTE. Jones Financial Companies Lllp raised its position in shares of DTE Energy by 72.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock valued at $760,000 after acquiring an additional 2,642 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in DTE Energy by 39.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after purchasing an additional 1,618 shares during the last quarter. M&T Bank Corp lifted its stake in DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock valued at $1,139,000 after buying an additional 395 shares during the period. Fifth Third Bancorp boosted its holdings in DTE Energy by 3.5% during the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock worth $1,065,000 after buying an additional 264 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in DTE Energy by 8.3% during the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock worth $1,184,000 after buying an additional 658 shares during the last quarter. 76.06% of the stock is owned by institutional investors.
DTE Energy Stock Down 1.3%
Shares of DTE stock traded down $1.77 on Wednesday, hitting $130.66. 2,022,574 shares of the stock were exchanged, compared to its average volume of 1,284,266. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82. DTE Energy Company has a fifty-two week low of $108.40 and a fifty-two week high of $140.39. The firm has a market capitalization of $27.11 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.44. The business has a 50-day moving average of $134.93 and a 200 day moving average of $130.01.
DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Equities analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.
DTE Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is currently 58.92%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on DTE shares. Citigroup reiterated a "buy" rating and issued a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Morgan Stanley cut their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Guggenheim lifted their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Finally, Evercore ISI lifted their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.93.
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About DTE Energy
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Free Report)
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.
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