DTE Energy Company (NYSE:DTE) Holdings Decreased by Magellan Asset Management Ltd

Key Points

• Magellan Asset Management Ltd has reduced its stake in DTE Energy by 3.8% to approximately 0.07% of the company, worth about $19.6 million.
• Several institutional investors, including Capital World Investors and GAMMA Investing LLC, have significantly increased their holdings in DTE Energy by substantial margins in recent quarters.
• DTE Energy's recent earnings report showed a miss with EPS of $1.36 compared to the consensus estimate of $1.37, despite revenue exceeding expectations at $2.91 billion.

Magellan Asset Management Ltd lowered its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 3.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,720 shares of the utilities provider's stock after selling 5,598 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.07% of DTE Energy worth $19,596,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Capital World Investors grew its stake in DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock valued at $823,905,000 after purchasing an additional 3,766,221 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of DTE Energy by 14,878.4% in the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock worth $163,655,000 after buying an additional 1,175,689 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after purchasing an additional 871,978 shares in the last quarter. AQR Capital Management LLC increased its holdings in DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after purchasing an additional 851,169 shares in the last quarter. Finally, HITE Hedge Asset Management LLC increased its stake in shares of DTE Energy by 196.7% in the 4th quarter. HITE Hedge Asset Management LLC now owns 964,919 shares of the utilities provider's stock valued at $116,514,000 after buying an additional 639,659 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Ratings Changes

DTE has been the topic of several recent research reports. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Citigroup reaffirmed a "buy" rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wells Fargo & Company boosted their price target on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, BMO Capital Markets boosted their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy has an average rating of "Moderate Buy" and a consensus target price of $141.53.

DTE Energy Stock Performance

DTE stock opened at $140.30 on Friday. The stock has a 50-day moving average price of $134.82 and a 200-day moving average price of $132.98. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $141.54. 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 has a market cap of $29.12 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42.

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

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. DTE Energy's payout ratio is presently 62.73%.

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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