Spire Wealth Management Sells 1,891 Shares of DTE Energy Company (NYSE:DTE)

Spire Wealth Management cut its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 77.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 544 shares of the utilities provider's stock after selling 1,891 shares during the quarter. Spire Wealth Management's holdings in DTE Energy were worth $75,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in shares of DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock valued at $760,000 after acquiring an additional 2,642 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of DTE Energy by 39.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock worth $693,000 after purchasing an additional 1,618 shares during the last quarter. M&T Bank Corp increased its position in shares of DTE Energy by 4.4% during the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock worth $1,139,000 after purchasing an additional 395 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of DTE Energy by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock worth $1,065,000 after purchasing an additional 264 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of DTE Energy by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock valued at $1,184,000 after buying an additional 658 shares during the last quarter. Institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

DTE traded down $1.77 during trading on Wednesday, hitting $130.66. The stock had a trading volume of 2,022,574 shares, compared to its average volume of 1,284,266. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The company has a 50 day moving average price of $134.93 and a 200-day moving average price of $130.01. DTE Energy Company has a one year low of $108.40 and a one year high of $140.39. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.40 and a beta of 0.44.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm earned $1.67 earnings per share. As a group, research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The firm 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 $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.34%. DTE Energy's payout ratio is 58.92%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Citigroup restated a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.93.

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.