Hennessy Advisors Inc. Cuts Position in DTE Energy (NYSE:DTE)

Hennessy Advisors Inc. reduced its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,804 shares of the utilities provider's stock after selling 2,500 shares during the quarter. Hennessy Advisors Inc.'s holdings in DTE Energy were worth $7,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. increased its stake in DTE Energy by 1.0% in the first quarter. Bernard Wealth Management Corp. now owns 10,190 shares of the utilities provider's stock valued at $1,409,000 after purchasing an additional 101 shares during the period. Davis Investment Partners LLC purchased a new stake in shares of DTE Energy in the first quarter valued at about $636,000. Fifth Third Bancorp boosted its holdings in DTE Energy by 3.5% in the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after purchasing an additional 264 shares in the last quarter. My Legacy Advisors LLC increased its position in DTE Energy by 2.4% during the 1st quarter. My Legacy Advisors LLC now owns 4,132 shares of the utilities provider's stock worth $571,000 after purchasing an additional 95 shares during the period. Finally, CX Institutional purchased a new position in shares of DTE Energy during the 1st quarter worth approximately $227,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DTE has been the topic of a number of analyst reports. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. BMO Capital Markets boosted their target price on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research report on Monday, April 21st. Guggenheim increased their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a report on Friday, March 21st. Evercore ISI boosted their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company lifted their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and a consensus price target of $140.93.

DTE Energy Trading Down 0.9%

Shares of DTE traded down $1.16 on Tuesday, hitting $132.00. 2,027,359 shares of the stock traded hands, compared to its average volume of 1,264,074. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39. The firm has a market capitalization of $27.39 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.41 and a beta of 0.45. The stock's 50 day moving average is $134.89 and its two-hundred day moving average is $129.28. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $1.67 earnings per share. As a group, sell-side analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.30%. DTE Energy's dividend payout ratio (DPR) is presently 58.92%.

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.