LPL Financial LLC Reduces Stock Position in DTE Energy Company (NYSE:DTE)

Key Points

• LPL Financial LLC reduced its stake in DTE Energy Company by 2.2%, owning 185,654 shares after selling 4,080 shares, which are now valued at approximately $25.67 million.
• DTE Energy reported a net margin of 10.16% and a return on equity of 12.72% for the last quarter, with earnings per share slightly missing estimates at $1.36.
• The company declared a quarterly dividend of $1.09, representing an annualized dividend of $4.36 with a dividend yield of 3.1%.

LPL Financial LLC decreased its position in DTE Energy Company (NYSE:DTE - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 185,654 shares of the utilities provider's stock after selling 4,080 shares during the period. LPL Financial LLC owned about 0.09% of DTE Energy worth $25,670,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Inspire Advisors LLC purchased a new position in shares of DTE Energy in the 1st quarter worth about $2,751,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in DTE Energy by 1.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,483 shares of the utilities provider's stock worth $9,607,000 after purchasing an additional 1,310 shares during the period. Empirical Finance LLC raised its holdings in DTE Energy by 3.3% during the 1st quarter. Empirical Finance LLC now owns 7,133 shares of the utilities provider's stock valued at $986,000 after buying an additional 228 shares during the period. HB Wealth Management LLC increased its stake in DTE Energy by 6.2% in the first quarter. HB Wealth Management LLC now owns 3,922 shares of the utilities provider's stock worth $542,000 after purchasing an additional 228 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of DTE Energy by 1.0% during the first quarter. TD Asset Management Inc now owns 208,615 shares of the utilities provider's stock valued at $28,845,000 after buying an additional 1,987 shares during the period. Institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

NYSE:DTE traded down $1.21 during mid-day trading on Tuesday, reaching $139.59. The stock had a trading volume of 870,686 shares, compared to its average volume of 1,468,037. The stock has a market capitalization of $28.98 billion, a PE ratio of 20.09, a P/E/G ratio of 2.80 and a beta of 0.42. The stock has a 50-day simple moving average of $134.53 and a two-hundred day simple moving average of $132.57. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. DTE Energy Company has a 12 month low of $115.59 and a 12 month high of $141.54.

DTE Energy (NYSE:DTE - Get Free Report) last posted 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 return on equity of 12.72% and a net margin of 10.16%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. On average, equities analysts anticipate that DTE Energy Company 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 Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.1%. DTE Energy's dividend payout ratio is presently 62.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Barclays raised their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley dropped their price objective on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets raised their price target on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a report on Monday, April 21st. Finally, Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and an average target price of $141.53.

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.