Forsta AP Fonden Trims Stake in DTE Energy Company (NYSE:DTE)

Key Points

• Forsta AP Fonden has reduced its stake in DTE Energy Company by 7.7%, holding 56,300 shares worth approximately $7.78 million.
• DTE Energy recently reported quarterly earnings, posting $1.36 EPS, slightly missing expectations, but achieving a revenue of $2.91 billion.
• The company announced a quarterly dividend of $1.09 per share, with a payout ratio of 62.73% and an annual yield of 3.1%.

Forsta AP Fonden decreased its position in DTE Energy Company (NYSE:DTE - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,300 shares of the utilities provider's stock after selling 4,700 shares during the quarter. Forsta AP Fonden's holdings in DTE Energy were worth $7,785,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in DTE Energy in the first quarter worth about $25,000. Olde Wealth Management LLC purchased a new position in DTE Energy during the 1st quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy during the 1st quarter valued at approximately $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of DTE Energy in the 1st quarter valued at approximately $31,000. Finally, Mattson Financial Services LLC bought a new stake in shares of DTE Energy in the 4th quarter valued at approximately $38,000. Institutional investors own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTE. BMO Capital Markets raised their price target on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research note on Monday, April 21st. Evercore ISI raised their price objective on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays lifted their price target on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Citigroup restated a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.53.

DTE Energy Price Performance

Shares of DTE Energy stock traded up $1.54 on Wednesday, reaching $141.43. The company's stock had a trading volume of 962,040 shares, compared to its average volume of 1,406,184. The company has a market capitalization of $29.36 billion, a P/E ratio of 20.35, a PEG ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $141.54. The stock has a 50-day moving average price of $134.97 and a 200-day moving average price of $133.26. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 12.72% and a net margin of 10.16%. Analysts expect that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid 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 62.73%.

DTE Energy Company 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.