Hsbc Holdings PLC Reduces Stock Holdings in DTE Energy Company $DTE

Key Points

• Hsbc Holdings PLC has reduced its stake in DTE Energy Company by 2.9%, selling 10,510 shares, and now owns approximately 0.17% of the company valued at $48.5 million.
• DTE Energy reported $1.36 earnings per share, slightly missing the consensus estimate of $1.37, with revenue hitting $2.91 billion for the quarter.
• The company announced a quarterly dividend of $1.09, reflecting an annualized yield of 3.1%, with the ex-dividend date set for September 15.

Hsbc Holdings PLC decreased its position in DTE Energy Company (NYSE:DTE - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 351,491 shares of the utilities provider's stock after selling 10,510 shares during the period. Hsbc Holdings PLC owned about 0.17% of DTE Energy worth $48,498,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DTE. GeoWealth Management LLC lifted its stake in DTE Energy by 62.9% in the fourth quarter. GeoWealth Management LLC now owns 1,619 shares of the utilities provider's stock valued at $195,000 after purchasing an additional 625 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in DTE Energy by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 752,776 shares of the utilities provider's stock valued at $90,897,000 after acquiring an additional 15,342 shares during the period. State of Tennessee Department of Treasury raised its holdings in DTE Energy by 28.9% during the 4th quarter. State of Tennessee Department of Treasury now owns 68,985 shares of the utilities provider's stock valued at $8,330,000 after acquiring an additional 15,473 shares during the period. Stifel Financial Corp raised its holdings in DTE Energy by 1.8% during the 4th quarter. Stifel Financial Corp now owns 91,293 shares of the utilities provider's stock valued at $11,024,000 after acquiring an additional 1,590 shares during the period. Finally, Dark Forest Capital Management LP raised its holdings in DTE Energy by 255.8% during the 4th quarter. Dark Forest Capital Management LP now owns 9,567 shares of the utilities provider's stock valued at $1,155,000 after acquiring an additional 6,878 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Trading Down 0.2%

DTE Energy stock opened at $140.2490 on Friday. The stock has a market cap of $29.11 billion, a P/E ratio of 20.18, a PEG ratio of 2.79 and a beta of 0.42. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05. The firm's fifty day moving average price is $135.75 and its 200-day moving average price is $134.13. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly 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). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio is currently 62.73%.

Analysts Set New Price Targets

DTE has been the topic of a number of analyst reports. Barclays boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. 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. Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Citigroup reissued a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.29.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

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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