Bank of New York Mellon Corp Sells 49,156 Shares of DTE Energy Company (NYSE:DTE)

Bank of New York Mellon Corp trimmed its position in DTE Energy Company (NYSE:DTE - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,335,179 shares of the utilities provider's stock after selling 49,156 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of DTE Energy worth $184,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new position in DTE Energy in the first quarter valued at approximately $27,000. OneDigital Investment Advisors LLC increased its stake in DTE Energy by 2.0% in the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after acquiring an additional 78 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of DTE Energy by 18.8% during the first quarter. Checchi Capital Advisers LLC now owns 2,055 shares of the utilities provider's stock worth $284,000 after buying an additional 325 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of DTE Energy by 2.9% during the first quarter. Principal Financial Group Inc. now owns 261,103 shares of the utilities provider's stock worth $36,103,000 after buying an additional 7,297 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of DTE Energy by 28.5% during the first quarter. First Horizon Advisors Inc. now owns 527 shares of the utilities provider's stock worth $73,000 after buying an additional 117 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Trading Down 0.7%

DTE Energy stock traded down $0.88 during trading hours on Tuesday, reaching $130.25. The stock had a trading volume of 1,548,727 shares, compared to its average volume of 1,293,068. The stock has a market cap of $27.03 billion, a PE ratio of 17.60, a PEG ratio of 2.40 and a beta of 0.44. DTE Energy Company 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 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The company has a fifty day simple moving average of $134.51 and a 200-day simple moving average of $130.39.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly 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. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. During the same quarter last year, the firm earned $1.67 EPS. Analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is 58.92%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley decreased their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, 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 report on Friday, March 21st. One investment 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's stock. Based on data from MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $140.93.

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.