Applied Finance Capital Management LLC Sells 82,689 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• Applied Finance Capital Management LLC sold 82,689 shares of DTE Energy Company, reducing its holdings by 47.4% in the first quarter, leaving them with 91,596 shares valued at approximately $12.67 million.
• DTE Energy's recent quarterly earnings report revealed an EPS of $2.10, surpassing expectations, with revenue of $3.37 billion compared to the forecast of $3.33 billion.
• The company declared a quarterly dividend of $1.09 per share, scheduled for payment on October 15th, representing an annualized dividend yield of 3.13%.

Applied Finance Capital Management LLC reduced its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 47.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,596 shares of the utilities provider's stock after selling 82,689 shares during the quarter. Applied Finance Capital Management LLC's holdings in DTE Energy were worth $12,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. American Century Companies Inc. raised its holdings in DTE Energy by 162.2% during the 4th quarter. American Century Companies Inc. now owns 135,750 shares of the utilities provider's stock valued at $16,392,000 after buying an additional 83,969 shares during the last quarter. LPL Financial LLC raised its holdings in DTE Energy by 6.6% during the 4th quarter. LPL Financial LLC now owns 189,734 shares of the utilities provider's stock valued at $22,910,000 after buying an additional 11,760 shares during the last quarter. Korea Investment CORP raised its holdings in DTE Energy by 101.2% during the 4th quarter. Korea Investment CORP now owns 161,650 shares of the utilities provider's stock valued at $19,519,000 after buying an additional 81,300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in DTE Energy by 6.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 327,959 shares of the utilities provider's stock valued at $39,873,000 after buying an additional 18,752 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co bought a new stake in DTE Energy during the 4th quarter valued at $3,096,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 0.2%

Shares of NYSE:DTE traded up $0.21 during midday trading on Wednesday, reaching $137.31. The company's stock had a trading volume of 465,820 shares, compared to its average volume of 1,408,193. The firm has a 50 day moving average of $134.33 and a 200-day moving average of $132.00. The firm has a market capitalization of $28.49 billion, a P/E ratio of 18.56, a PEG ratio of 2.73 and a beta of 0.44. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the firm posted $1.67 EPS. On average, research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

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 paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio is currently 58.92%.

Wall Street Analyst Weigh In

Several research analysts have commented on DTE shares. Morgan Stanley decreased their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a 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 Friday, May 16th. BMO Capital Markets upped their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Finally, Evercore ISI upped their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $141.53.

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.