Beach Investment Counsel Inc. PA Sells 1,918 Shares of DTE Energy (NYSE:DTE)

Beach Investment Counsel Inc. PA reduced its position in DTE Energy (NYSE:DTE - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,650 shares of the utilities provider's stock after selling 1,918 shares during the quarter. DTE Energy makes up about 1.2% of Beach Investment Counsel Inc. PA's investment portfolio, making the stock its 24th largest holding. Beach Investment Counsel Inc. PA's holdings in DTE Energy were worth $8,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. abrdn plc increased its stake in DTE Energy by 13.9% in the 4th quarter. abrdn plc now owns 86,965 shares of the utilities provider's stock worth $10,444,000 after buying an additional 10,604 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of DTE Energy by 21.4% in the fourth quarter. Yousif Capital Management LLC now owns 34,175 shares of the utilities provider's stock worth $4,127,000 after acquiring an additional 6,035 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider's stock worth $258,000 after purchasing an additional 92 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in DTE Energy by 40.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,802 shares of the utilities provider's stock valued at $2,281,000 after purchasing an additional 5,386 shares during the period. Finally, Choreo LLC lifted its holdings in DTE Energy by 7.1% in the 4th quarter. Choreo LLC now owns 9,066 shares of the utilities provider's stock worth $1,094,000 after purchasing an additional 603 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Trading Up 0.1%

NYSE:DTE traded up $0.07 during midday trading on Monday, hitting $133.92. 1,077,394 shares of the company traded hands, compared to its average volume of 1,258,775. The firm has a market capitalization of $27.79 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.41 and a beta of 0.45. The firm's fifty day moving average is $134.57 and its 200-day moving average is $128.90. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter in the previous year, the business posted $1.67 earnings per share. On average, sell-side analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, June 16th. DTE Energy's payout ratio is currently 58.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Evercore ISI lifted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Guggenheim boosted their price target 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. BMO Capital Markets increased their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a report on Monday, April 21st. Finally, Barclays lowered DTE Energy from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of "Moderate Buy" and an average 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.