DTE Energy Company $DTE Shares Sold by Arvest Investments Inc.

Key Points

• Arvest Investments Inc. has reduced its stake in DTE Energy Company by 25.4%, resulting in ownership of 10,571 shares worth approximately $1.4 million.
• DTE Energy recently announced a quarterly dividend of $1.09, with an annualized yield of 3.2%, to be paid on October 15th.
• Analysts have mixed ratings on DTE Energy, with target prices ranging from $138 to $151 and an average rating of "Moderate Buy."

Arvest Investments Inc. cut its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 25.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,571 shares of the utilities provider's stock after selling 3,592 shares during the period. Arvest Investments Inc.'s holdings in DTE Energy were worth $1,400,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Cloud Capital Management LLC acquired a new position in DTE Energy during the 1st quarter valued at about $25,000. Olde Wealth Management LLC acquired a new position in DTE Energy during the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in DTE Energy during the 1st quarter valued at about $28,000. SouthState Corp acquired a new position in DTE Energy during the 1st quarter valued at about $29,000. Finally, N.E.W. Advisory Services LLC acquired a new position in DTE Energy during the 1st quarter valued at about $31,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.

DTE Energy Stock Down 0.0%

DTE stock opened at $136.74 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 firm's 50-day moving average is $137.23 and its two-hundred day moving average is $135.20. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is presently 62.73%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DTE. Barclays boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Sunday. Morgan Stanley set a $140.00 price target on shares of DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Finally, Citigroup restated a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.25.

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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