DTE Energy Company (NYSE:DTE) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in DTE Energy by 22.3%, selling 38,693 shares, now holding approximately 134,559 shares valued at $18.38 million.
• Multiple institutional investors increased their stakes in DTE Energy, with American Century Companies Inc. raising theirs by 162.2% in the last quarter.
• DTE Energy announced a quarterly dividend of $1.09 per share, with an upcoming payment date of October 15th and a yield of 3.13%.

Mediolanum International Funds Ltd trimmed its position in DTE Energy Company (NYSE:DTE - Free Report) by 22.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,559 shares of the utilities provider's stock after selling 38,693 shares during the period. Mediolanum International Funds Ltd owned about 0.06% of DTE Energy worth $18,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graypoint LLC lifted its holdings in shares of DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after acquiring an additional 74 shares during the period. UMB Bank n.a. lifted its holdings in shares of DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock worth $1,250,000 after acquiring an additional 78 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of DTE Energy by 2.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR lifted its holdings in shares of DTE Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after acquiring an additional 81 shares during the period. Finally, First American Bank lifted its holdings in shares of DTE Energy by 0.7% during the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider's stock worth $1,701,000 after acquiring an additional 85 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI increased 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. 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 report on Friday, May 23rd. Barclays increased their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company increased their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, BMO Capital Markets increased 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $141.53.

DTE Energy Stock Up 0.2%

Shares of DTE stock traded up $0.22 during mid-day trading on Wednesday, reaching $137.32. 465,820 shares of the company were exchanged, compared to its average volume of 1,408,193. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $140.39. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.59 and a current ratio of 0.87. The company has a market capitalization of $28.50 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.73 and a beta of 0.44. The business's 50 day simple moving average is $134.33 and its 200 day simple moving average is $132.00.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $1.67 earnings per share. Research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 3.18%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio is presently 58.92%.

About DTE Energy

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.