Royal Bank of Canada Decreases Stock Position in DTE Energy Company $DTE

Key Points

• Royal Bank of Canada cut its DTE Energy position by 9.4% in the first quarter, selling 67,952 shares and retaining 655,054 shares worth approximately $95.8 million. Institutional investors collectively own 76.06% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $158.46; recent targets range from $154 to $166.
• DTE Energy reported quarterly EPS of $1.32, beating estimates by $0.18, and announced a quarterly dividend of $1.165, equivalent to a 3.3% annual yield.

Royal Bank of Canada decreased its position in DTE Energy Company (NYSE:DTE - Free Report) by 9.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 655,054 shares of the utilities provider's stock after selling 67,952 shares during the quarter. Royal Bank of Canada owned 0.31% of DTE Energy worth $95,781,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DTE. Laurel Wealth Advisors LLC purchased a new position in shares of DTE Energy in the fourth quarter valued at $25,000. Quest 10 Wealth Builders Inc. grew its holdings in DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 181 shares in the last quarter. Torren Management LLC purchased a new stake in DTE Energy during the 4th quarter worth $26,000. Elyxium Wealth LLC purchased a new stake in DTE Energy during the 4th quarter worth $29,000. Finally, Key Financial Inc purchased a new stake in DTE Energy during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DTE shares. Truist Financial decreased their price objective on shares of DTE Energy from $165.00 to $158.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price target on shares of DTE Energy in a research note on Monday, June 15th. TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They issued a "hold" rating and a $166.00 price target for the company. Finally, Barclays lowered their price objective on DTE Energy from $156.00 to $154.00 and set an "equal weight" rating for the company in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.46.

DTE Energy Trading Up 0.2%

DTE opened at $141.94 on Friday. DTE Energy Company has a 12-month low of $126.23 and a 12-month high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.69. The stock has a market capitalization of $29.54 billion, a PE ratio of 22.46, a P/E/G ratio of 3.09 and a beta of 0.38. The firm's fifty day moving average price is $147.60 and its 200 day moving average price is $144.78.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period last year, the business earned $1.36 EPS. As a group, research analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's payout ratio is currently 73.73%.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total transaction of $143,720.00. Following the sale, the vice president owned 6,233 shares in the company, valued at $895,806.76. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

DTE Energy Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.

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