Perigon Wealth Management LLC Lowers Holdings in DTE Energy Company (NYSE:DTE)

Perigon Wealth Management LLC decreased its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,927 shares of the utilities provider's stock after selling 6,985 shares during the quarter. Perigon Wealth Management LLC's holdings in DTE Energy were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock worth $760,000 after buying an additional 2,642 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of DTE Energy by 39.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after purchasing an additional 1,618 shares during the last quarter. M&T Bank Corp raised its holdings in shares of DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock valued at $1,139,000 after purchasing an additional 395 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of DTE Energy by 3.5% during the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after purchasing an additional 264 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of DTE Energy by 42.3% during the fourth quarter. Schroder Investment Management Group now owns 34,928 shares of the utilities provider's stock valued at $4,211,000 after purchasing an additional 10,384 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE DTE traded down $0.06 during trading on Tuesday, hitting $132.40. 2,222,692 shares of the company's stock traded hands, compared to its average volume of 1,281,313. 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 stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.40 and a beta of 0.44. DTE Energy Company has a 12-month low of $108.40 and a 12-month high of $140.39. The business has a 50 day moving average of $135.00 and a 200-day moving average of $129.99.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.12. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. During the same quarter in the previous year, the firm posted $1.67 earnings per share. As a group, equities research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $1.09 per share. 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 3.29%. DTE Energy's payout ratio is 58.92%.

Analyst Ratings Changes

DTE has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Evercore ISI increased their price target on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley cut 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. Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. 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 report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.93.

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.