DTE Energy Company $DTE Stake Decreased by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has decreased its stake in DTE Energy by 19.8%, now holding 18,650 shares valued at approximately $2.58 million as of the latest SEC filing.
• Several analysts have updated their ratings and target prices for DTE Energy, with Citigroup setting a target of $151.00, while Wall Street Zen downgraded the stock from "hold" to "sell."
• DTE Energy announced a quarterly dividend of $1.09 per share, with a dividend yield of 3.2%, to be paid on October 15th to investors of record on September 15th.

Rafferty Asset Management LLC trimmed its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,650 shares of the utilities provider's stock after selling 4,598 shares during the quarter. Rafferty Asset Management LLC's holdings in DTE Energy were worth $2,579,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in DTE Energy during the 1st quarter worth $25,000. Olde Wealth Management LLC bought a new stake in shares of DTE Energy during the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DTE Energy during the first quarter valued at about $28,000. SouthState Corp acquired a new stake in DTE Energy in the first quarter worth about $29,000. Finally, N.E.W. Advisory Services LLC bought a new position in DTE Energy in the 1st quarter valued at about $31,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DTE has been the topic of several research analyst reports. Citigroup reissued 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. Barclays increased their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. 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, Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 25th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $143.38.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,600 shares of the company's 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 sale, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

DTE Energy Stock Up 0.1%

NYSE DTE opened at $136.69 on Friday. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $142.05. The company has a market capitalization of $28.37 billion, a P/E ratio of 19.67, a PEG ratio of 2.71 and a beta of 0.42. The company's 50 day simple moving average is $136.40 and its 200 day simple moving average is $134.76. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

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

DTE Energy Dividend Announcement

The business 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%.

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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