AQR Capital Management LLC Reduces Position in DTE Energy Company $DTE

Key Points

• AQR Capital Management LLC has reduced its stake in DTE Energy by 3.4%, selling 32,822 shares, leaving it with 931,833 shares valued at approximately $128.7 million.
• Analyst ratings for DTE Energy are varied, with BMO Capital Markets raising its target price to $144 while Wall Street Zen downgraded it to a "sell" rating, resulting in a consensus rating of "Moderate Buy."
• DTE Energy announced a quarterly dividend of $1.09 per share, reflecting an annualized payout of $4.36 and a yield of 3.2%, with the ex-dividend date set for September 15th.

AQR Capital Management LLC lowered its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 3.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 931,833 shares of the utilities provider's stock after selling 32,822 shares during the quarter. AQR Capital Management LLC owned 0.45% of DTE Energy worth $128,668,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DTE. Cloud Capital Management LLC bought a new position in DTE Energy in the first quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new position in DTE Energy in the first quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in DTE Energy in the first quarter valued at approximately $28,000. SouthState Corp bought a new position in DTE Energy in the first quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in DTE Energy during the first quarter worth $31,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

Shares of DTE traded up $0.38 during mid-day trading on Tuesday, reaching $135.12. The company had a trading volume of 634,381 shares, compared to its average volume of 1,361,108. The company's 50 day simple moving average is $136.82 and its 200 day simple moving average is $135.12. The company has a market capitalization of $28.05 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.71 and a beta of 0.42. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $142.05. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion for 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 expect that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is currently 62.73%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DTE. Citigroup restated a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. BMO Capital Markets increased their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a report on Monday, August 25th. Morgan Stanley set a $140.00 price target on shares of DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. upped their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $143.38.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

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.