Edgestream Partners L.P. Sells 68,597 Shares of DTE Energy Company $DTE

Key Points

• Edgestream Partners cut its DTE Energy position by 94.8% in the first quarter, selling 68,597 shares and retaining 3,757 shares worth approximately $549,000.
• Analysts maintain a generally positive outlook, with DTE receiving a “Moderate Buy” consensus rating and an average price target of $158.62; recent targets range from $150 to $166.
• DTE Energy exceeded quarterly earnings expectations, reporting $1.32 in adjusted earnings per share versus the $1.14 consensus estimate, and declared a quarterly dividend of $1.165, representing a 3.3% annualized yield.

Edgestream Partners L.P. lessened its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 94.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,757 shares of the utilities provider's stock after selling 68,597 shares during the quarter. Edgestream Partners L.P.'s holdings in DTE Energy were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of DTE Energy by 227.4% during the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider's stock worth $352,016,000 after acquiring an additional 1,895,631 shares during the period. Balyasny Asset Management L.P. bought a new stake in DTE Energy in the 4th quarter valued at $139,423,000. Cohen & Steers Inc. acquired a new stake in DTE Energy during the 4th quarter valued at $125,604,000. Vanguard Group Inc. lifted its holdings in DTE Energy by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider's stock valued at $3,392,888,000 after purchasing an additional 766,499 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in DTE Energy by 176.5% during the second quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider's stock worth $134,474,000 after purchasing an additional 648,007 shares during the period. Institutional investors own 76.06% of the company's stock.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,000 shares of DTE Energy stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $143.72, for a total value of $143,720.00. Following the completion of the sale, the vice president owned 6,233 shares in the company, valued at $895,806.76. The trade was a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on DTE shares. Morgan Stanley reiterated an "overweight" rating on shares of DTE Energy in a report on Wednesday, July 22nd. TD Cowen started coverage on shares of DTE Energy in a research note on Tuesday, July 7th. They set a "hold" rating and a $166.00 target price for the company. Weiss Ratings raised shares of DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. BMO Capital Markets upped their price target on shares of DTE Energy from $148.00 to $150.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Finally, Truist Financial decreased their price target on shares of DTE Energy from $166.00 to $160.00 and set a "buy" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and an average target price of $158.62.

DTE Energy Stock Performance

Shares of NYSE DTE opened at $141.77 on Wednesday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The firm has a market cap of $29.50 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.10 and a beta of 0.38. The stock's fifty day moving average price is $147.47 and its two-hundred day moving average price is $145.00. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter last year, the firm earned $1.36 earnings per share. On average, equities analysts forecast that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a yield of 3.3%. DTE Energy's payout ratio is 73.73%.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.

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