Kestra Advisory Services LLC Decreases Holdings in DTE Energy Company $DTE

Key Points

• Kestra Advisory Services LLC reduced its holdings in DTE Energy by 8.2%, selling 1,892 shares to own 21,146 shares valued at approximately $2.92 million as of the latest SEC filing.
• Several large investors, including JPMorgan Chase & Co. and GAMMA Investing LLC, significantly increased their stakes in DTE Energy during the first quarter of 2023.
• DTE Energy announced a quarterly dividend of $1.09 per share, with an annualized dividend yield of 3.1%, to be paid on October 15th to shareholders of record as of September 15th.

Kestra Advisory Services LLC lessened its stake in DTE Energy Company (NYSE:DTE - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,146 shares of the utilities provider's stock after selling 1,892 shares during the quarter. Kestra Advisory Services LLC's holdings in DTE Energy were worth $2,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTE. GAMMA Investing LLC raised its stake in DTE Energy by 14,878.4% in the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after purchasing an additional 1,175,689 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in DTE Energy by 1,794.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after purchasing an additional 871,978 shares in the last quarter. AQR Capital Management LLC raised its stake in DTE Energy by 750.0% in the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after purchasing an additional 851,169 shares in the last quarter. JPMorgan Chase & Co. raised its stake in DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Finally, Nuveen LLC acquired a new position in DTE Energy in the first quarter valued at about $67,315,000. Institutional investors and hedge funds own 76.06% of the company's stock.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

DTE Energy Trading Up 0.1%

DTE stock traded up $0.19 during trading on Monday, hitting $136.69. The company had a trading volume of 951,634 shares, compared to its average volume of 1,056,595. The business has a 50-day moving average of $136.40 and a 200-day moving average of $134.89. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The stock has a market cap of $28.37 billion, a PE ratio of 19.67, a PEG ratio of 2.71 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.57 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 EPS 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 company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. Research analysts predict 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 issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is currently 62.73%.

Wall Street Analysts Forecast Growth

DTE has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Barclays boosted their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reissued a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. BMO Capital Markets boosted their target price on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Finally, Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday, August 25th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and a consensus price target of $143.38.

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.