Axxcess Wealth Management LLC Sells 2,239 Shares of DTE Energy Company (NYSE:DTE)

Axxcess Wealth Management LLC reduced its stake in DTE Energy Company (NYSE:DTE - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,126 shares of the utilities provider's stock after selling 2,239 shares during the period. Axxcess Wealth Management LLC's holdings in DTE Energy were worth $1,262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock worth $3,053,330,000 after acquiring an additional 879,670 shares in the last quarter. Capital World Investors increased its position 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 acquiring an additional 3,766,221 shares in the last quarter. Geode Capital Management LLC increased its position in shares of DTE Energy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider's stock worth $592,642,000 after acquiring an additional 115,270 shares in the last quarter. Boston Partners increased its position in shares of DTE Energy by 25.1% during the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider's stock worth $350,150,000 after acquiring an additional 582,643 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of DTE Energy by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after acquiring an additional 12,554 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Up 1.7%

DTE opened at $133.66 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.39 and a beta of 0.44. DTE Energy Company has a twelve month low of $109.73 and a twelve month high of $140.39. The company's 50-day moving average price is $134.22 and its two-hundred day moving average price is $130.49.

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 for the quarter, beating analysts' consensus estimates of $1.98 by $0.12. The firm had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.33 billion. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. During the same period in the previous year, the company earned $1.67 earnings per share. As a group, equities analysts expect 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 $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is 58.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DTE shares. Barclays decreased their target price on shares of DTE Energy from $137.00 to $136.00 and set an "equal weight" rating for the company in a research report on Thursday. Guggenheim upped their price objective 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 stock a "market perform" rating in a research report on Monday, April 21st. 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 research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $141.00.

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.

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