DTE Energy Company $DTE Holdings Raised by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in DTE Energy by 14.9% in the first quarter, now owning 96,120 shares valued at approximately $13.29 million.
• DTE Energy announced a quarterly dividend of $1.09 per share, yielding 3.1%, with the record date set for September 15th.
• Analysts have mixed ratings for DTE Energy, with a consensus of 6 hold ratings and 9 buy ratings, and a target price averaging around $142.29.

HighTower Advisors LLC increased its stake in DTE Energy Company (NYSE:DTE - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 96,120 shares of the utilities provider's stock after purchasing an additional 12,466 shares during the quarter. HighTower Advisors LLC's holdings in DTE Energy were worth $13,291,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have issued reports on DTE. Evercore ISI lifted their price target on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Barclays boosted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Citigroup reiterated a "buy" rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Finally, Wells Fargo & Company raised their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.29.

Insider Transactions at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of DTE stock traded up $0.1650 during trading hours on Thursday, hitting $140.6550. The company's stock had a trading volume of 413,598 shares, compared to its average volume of 1,388,532. 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 company has a 50 day moving average of $135.67 and a 200 day moving average of $134.00. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $142.05. The stock has a market cap of $29.20 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data 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. On average, sell-side analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.1%. DTE Energy's dividend payout ratio is 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.