Beach Investment Counsel Inc. PA lowered its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 59,650 shares of the utilities provider's stock after selling 1,918 shares during the quarter. DTE Energy accounts for 1.2% of Beach Investment Counsel Inc. PA's holdings, making the stock its 24th biggest holding. Beach Investment Counsel Inc. PA's holdings in DTE Energy were worth $8,248,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in DTE Energy in the first quarter worth about $230,000. UMB Bank n.a. increased its stake in DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares in the last quarter. Procyon Advisors LLC grew its stake in DTE Energy by 4.4% during the 1st quarter. Procyon Advisors LLC now owns 12,000 shares of the utilities provider's stock valued at $1,659,000 after purchasing an additional 502 shares during the last quarter. Secure Asset Management LLC grew its stake in DTE Energy by 8.0% during the 1st quarter. Secure Asset Management LLC now owns 4,129 shares of the utilities provider's stock valued at $571,000 after purchasing an additional 305 shares during the last quarter. Finally, Apella Capital LLC purchased a new stake in DTE Energy during the 1st quarter valued at about $314,000. 76.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on the stock. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Barclays lowered DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. BMO Capital Markets lifted their price objective on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research note on Monday, April 21st. Morgan Stanley reduced their price objective on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Guggenheim raised their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $140.93.
Get Our Latest Report on DTE Energy
DTE Energy Stock Down 0.0%
DTE traded down $0.02 on Wednesday, hitting $134.86. 1,290,441 shares of the company were exchanged, compared to its average volume of 1,395,762. DTE Energy has a twelve month low of $108.40 and a twelve month high of $140.39. The company has a market cap of $27.99 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.41 and a beta of 0.45. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $134.39 and a two-hundred day moving average price of $129.00.
DTE Energy (NYSE:DTE - Get Free Report) last issued 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. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. On average, equities analysts predict that DTE Energy will post 7.18 earnings per share for the current year.
DTE Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, June 16th. DTE Energy's dividend payout ratio is presently 58.92%.
About DTE Energy
(
Free Report)
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.
Featured Stories
Before you consider DTE Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DTE Energy wasn't on the list.
While DTE Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
