M&T Bank Corp Lowers Position in DTE Energy Company (NYSE:DTE)

M&T Bank Corp lowered its position in DTE Energy Company (NYSE:DTE - Free Report) by 20.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,523 shares of the utilities provider's stock after selling 1,909 shares during the period. M&T Bank Corp's holdings in DTE Energy were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock worth $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. Capital World Investors raised its stake in shares of DTE Energy by 123.2% during the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after buying an additional 3,766,221 shares during the period. Geode Capital Management LLC raised its stake in shares of DTE Energy by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider's stock worth $592,642,000 after buying an additional 115,270 shares during the period. Boston Partners raised its stake in shares of DTE Energy by 25.1% during the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider's stock worth $350,150,000 after buying an additional 582,643 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of DTE Energy by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after buying an additional 12,554 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

DTE has been the subject of several research analyst reports. JPMorgan Chase & Co. upped 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. BMO Capital Markets upped their target price on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research note on Monday, April 21st. Evercore ISI upped their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Citigroup reaffirmed a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.53.

DTE Energy Trading Up 0.7%

Shares of DTE traded up $0.90 during midday trading on Wednesday, reaching $134.25. The company had a trading volume of 1,267,841 shares, compared to its average volume of 1,299,893. DTE Energy Company has a 1-year low of $114.77 and a 1-year high of $140.39. The stock has a market cap of $27.86 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.27 and a beta of 0.44. The firm has a 50 day simple moving average of $133.94 and a 200-day simple moving average of $130.85. The company has a quick ratio of 0.59, a current ratio of 0.87 and a debt-to-equity ratio of 1.82.

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

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) 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.