Mutual of America Capital Management LLC Cuts Stock Position in DTE Energy Company (NYSE:DTE)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in DTE Energy by 20.0%, selling 6,031 shares during the first quarter, bringing their total to 24,095 shares valued at $3.3 million.
• Several other institutional investors have increased their stakes in DTE Energy, with Wells Fargo raising theirs by 13.4% and Federated Hermes increasing theirs by a remarkable 710.8%.
• DTE Energy's quarterly earnings missed estimates, reporting $1.36 per share against a consensus of $1.37, while the company also declared a quarterly dividend of $1.09 to be paid on October 15th.

Mutual of America Capital Management LLC reduced its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,095 shares of the utilities provider's stock after selling 6,031 shares during the quarter. Mutual of America Capital Management LLC's holdings in DTE Energy were worth $3,332,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new position in shares of DTE Energy in the first quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new stake in DTE Energy in the 1st quarter valued at $27,000. Mattson Financial Services LLC bought a new position in DTE Energy during the 4th quarter valued at $38,000. Financial Gravity Asset Management Inc. purchased a new position in DTE Energy during the 1st quarter worth $41,000. Finally, Bank of New Hampshire bought a new stake in shares of DTE Energy in the 1st quarter worth $55,000. 76.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DTE has been the subject of several analyst reports. Evercore ISI increased their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company boosted their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets boosted their price objective on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research report 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Price Performance

DTE traded down $0.04 during trading on Tuesday, reaching $139.88. 1,308,884 shares of the company were exchanged, compared to its average volume of 1,364,731. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $141.54. The company's 50-day moving average is $134.89 and its two-hundred day moving average is $133.22. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The company has a market cap of $29.04 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.78 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last announced 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 analysts' expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. 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.