DTE Energy Company $DTE Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in DTE Energy Company by 1.7%, owning 145,035 shares valued at approximately $19.2 million as of the end of the last quarter.
• Several other institutional investors increased their stakes in DTE Energy, with LRI Investments LLC leading with a 456.7% increase during the second quarter.
• DTE Energy reported quarterly earnings of $1.36 per share, missing analysts' estimates of $1.37, despite higher revenues of $2.91 billion.

Allspring Global Investments Holdings LLC trimmed its stake in DTE Energy Company (NYSE:DTE - Free Report) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,035 shares of the utilities provider's stock after selling 2,452 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of DTE Energy worth $19,207,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. LRI Investments LLC increased its stake in DTE Energy by 456.7% in the second quarter. LRI Investments LLC now owns 835 shares of the utilities provider's stock valued at $111,000 after purchasing an additional 685 shares during the last quarter. CWM LLC increased its stake in DTE Energy by 7.4% in the second quarter. CWM LLC now owns 23,848 shares of the utilities provider's stock valued at $3,159,000 after purchasing an additional 1,636 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in DTE Energy by 18.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,196 shares of the utilities provider's stock valued at $3,606,000 after purchasing an additional 4,293 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in DTE Energy in the second quarter valued at $712,000. Finally, Apollon Wealth Management LLC increased its stake in DTE Energy by 11.1% in the second quarter. Apollon Wealth Management LLC now owns 2,682 shares of the utilities provider's stock valued at $355,000 after purchasing an additional 267 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Up 0.3%

Shares of DTE Energy stock opened at $141.99 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The business's 50 day simple moving average is $138.55 and its 200-day simple moving average is $136.03. The stock has a market capitalization of $29.48 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.03 and a beta of 0.42. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $143.79.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. Equities research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of DTE Energy in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on DTE Energy from $140.00 to $137.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Scotiabank reaffirmed a "sector perform" rating and issued a $147.00 target price on shares of DTE Energy in a research report on Friday, October 3rd. BMO Capital Markets upped their target price on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. upped their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.08.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president directly owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy 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.

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