Gulf International Bank UK Ltd Lowers Stock Position in DTE Energy Company (NYSE:DTE)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in DTE Energy Company by 26.4%, now owning 11,871 shares valued at approximately $1.64 million.
• Several hedge funds acquired new positions in DTE Energy during the first quarter, contributing to 76.06% of the stock's ownership by institutional investors.
• Equities analysts have varied outlooks on DTE Energy, with price targets ranging from $134.00 to $151.00 and a general consensus rating of "Moderate Buy."

Gulf International Bank UK Ltd cut its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 26.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,871 shares of the utilities provider's stock after selling 4,248 shares during the period. Gulf International Bank UK Ltd's holdings in DTE Energy were worth $1,641,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cloud Capital Management LLC purchased a new position in shares of DTE Energy during the first quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new position in shares of DTE Energy during the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DTE Energy in the 1st quarter valued at $28,000. SouthState Corp purchased a new position in DTE Energy in the 1st quarter valued at $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in DTE Energy in the 1st quarter valued at $31,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Citigroup reiterated a "buy" rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets lifted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the company 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 nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.29.

DTE Energy Trading Down 1.0%

NYSE:DTE opened at $140.07 on Friday. The stock has a fifty day simple moving average of $135.29 and a 200-day simple moving average of $133.44. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $141.54. The company has a market capitalization of $29.08 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.81 and a beta of 0.42. 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 announced its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, equities research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.1%. DTE Energy's payout ratio is presently 62.73%.

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.

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