Glenmede Trust Co. NA Lowers Stock Position in DTE Energy Company $DTE

Key Points

• Glenmede Trust reduced its DTE Energy position by 21.3% in the first quarter, selling 31,610 shares and retaining 116,607 shares valued at approximately $17.05 million. Institutional investors collectively own 76.06% of the company.
• DTE Energy reported quarterly EPS of $1.32, beating analyst expectations of $1.14, while revenue reached $6.74 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $158.46.
• The company declared a quarterly dividend of $1.165 per share, equivalent to $4.66 annually and a 3.3% yield; the dividend is payable October 15 to shareholders of record as of September 21.

Glenmede Trust Co. NA reduced its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 21.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,607 shares of the utilities provider's stock after selling 31,610 shares during the period. Glenmede Trust Co. NA owned 0.06% of DTE Energy worth $17,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. Empowered Funds LLC lifted its position in shares of DTE Energy by 200.7% during the 1st quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider's stock worth $1,370,000 after buying an additional 6,614 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of DTE Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider's stock worth $2,421,000 after buying an additional 5,072 shares during the last quarter. Intech Investment Management LLC grew its position in DTE Energy by 6.5% during the first quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider's stock valued at $1,754,000 after buying an additional 773 shares during the period. Sivia Capital Partners LLC bought a new position in DTE Energy during the second quarter valued at about $203,000. Finally, Jump Financial LLC increased its holdings in DTE Energy by 154.5% during the second quarter. Jump Financial LLC now owns 12,677 shares of the utilities provider's stock worth $1,679,000 after buying an additional 7,696 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $143.72, for a total transaction of $143,720.00. Following the transaction, the vice president directly owned 6,233 shares of the company's stock, valued at approximately $895,806.76. This trade represents a 13.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company's stock.

DTE Energy Stock Performance

DTE Energy stock opened at $141.94 on Friday. DTE Energy Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.69 and a current ratio of 0.80. The stock has a market cap of $29.54 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38. The firm's fifty day moving average price is $147.60 and its 200-day moving average price is $144.78.

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

DTE Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DTE shares. Morgan Stanley reissued an "overweight" rating on shares of DTE Energy in a research report on Wednesday, July 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. Bank of America reiterated a "buy" rating on shares of DTE Energy in a research note on Wednesday, April 22nd. TD Cowen assumed coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a "hold" rating and a $166.00 price objective on the stock. Finally, Truist Financial dropped their price objective on shares of DTE Energy from $165.00 to $158.00 and set a "buy" rating on the stock in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.46.

DTE Energy 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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