DTE Energy Company (NYSE:DTE) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. sold 10,126 shares of DTE Energy, reducing its stake by 32.9%, leaving it with 20,696 shares valued at approximately $2.86 million.
• DTE Energy's quarterly earnings were reported at $2.10 per share, exceeding analysts' expectations of $1.98, alongside a revenue of $3.37 billion.
• The company's quarterly dividend of $1.09 per share is set to be paid on October 15, reflecting a dividend yield of 3.18% with a payout ratio of 58.92%.

Pacer Advisors Inc. lowered its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,696 shares of the utilities provider's stock after selling 10,126 shares during the quarter. Pacer Advisors Inc.'s holdings in DTE Energy were worth $2,862,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of DTE. American Century Companies Inc. boosted its position in DTE Energy by 162.2% during the fourth quarter. American Century Companies Inc. now owns 135,750 shares of the utilities provider's stock worth $16,392,000 after acquiring an additional 83,969 shares during the last quarter. Blair William & Co. IL boosted its position in DTE Energy by 7.9% during the fourth quarter. Blair William & Co. IL now owns 10,295 shares of the utilities provider's stock worth $1,243,000 after acquiring an additional 751 shares during the last quarter. New Age Alpha Advisors LLC raised its stake in DTE Energy by 1,185.6% during the fourth quarter. New Age Alpha Advisors LLC now owns 1,607 shares of the utilities provider's stock worth $194,000 after purchasing an additional 1,482 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in DTE Energy by 1.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 62,762 shares of the utilities provider's stock worth $7,579,000 after purchasing an additional 664 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in DTE Energy by 39.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock worth $693,000 after purchasing an additional 1,618 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on DTE shares. Evercore ISI increased their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Citigroup reaffirmed a "buy" rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Barclays increased their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley cut their price target on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and an average target price of $141.53.

DTE Energy Stock Up 0.1%

DTE traded up $0.07 during trading hours on Friday, reaching $138.48. 1,411,977 shares of the stock traded hands, compared to its average volume of 1,421,016. The firm's fifty day simple moving average is $134.40 and its two-hundred day simple moving average is $132.17. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.69 and a beta of 0.44. 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 1.96, a current ratio of 0.94 and a quick ratio of 0.59.

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 analysts' consensus estimates of $1.37 by ($0.01). The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business 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 dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is currently 58.92%.

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.