Arvest Investments Inc. Has $1.96 Million Stake in DTE Energy (NYSE:DTE)

Arvest Investments Inc. cut its holdings in DTE Energy (NYSE:DTE - Free Report) by 18.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,163 shares of the utilities provider's stock after selling 3,189 shares during the quarter. Arvest Investments Inc.'s holdings in DTE Energy were worth $1,958,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors raised its stake in shares of DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after purchasing an additional 3,766,221 shares during the last quarter. GAMMA Investing LLC increased its stake in DTE Energy by 14,878.4% in the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after buying an additional 1,175,689 shares during the period. Vanguard Group Inc. increased its stake in DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock valued at $3,053,330,000 after buying an additional 879,670 shares during the period. Balyasny Asset Management L.P. raised its position in DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock worth $111,159,000 after buying an additional 871,978 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of DTE Energy by 750.0% in the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after acquiring an additional 851,169 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

Shares of DTE traded down $0.63 during midday trading on Friday, reaching $135.41. The stock had a trading volume of 555,828 shares, compared to its average volume of 1,256,561. DTE Energy has a 52 week low of $108.40 and a 52 week high of $140.39. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The firm's 50 day moving average price is $134.61 and its 200-day moving average price is $129.12. The company has a market capitalization of $28.10 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.41 and a beta of 0.45.

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 analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company earned $1.67 earnings per share. On average, analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a $1.09 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.36 annualized dividend and a yield of 3.22%. DTE Energy's dividend payout ratio (DPR) is currently 58.92%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup reiterated a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Wells Fargo & Company increased their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Evercore ISI raised their price target on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets upped their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Finally, Barclays cut DTE Energy from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $140.93.

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.