Tortoise Capital Advisors L.L.C. Reduces Stock Position in DTE Energy Company $DTE

Key Points

• Tortoise Capital Advisors has reduced its holdings in DTE Energy Company by 25.2%, owning 127,666 shares worth approximately $17.65 million after selling 43,048 shares in the first quarter.
• In contrast, JPMorgan Chase & Co. significantly increased its stake in DTE Energy by 57.4%, bringing its total to 1,405,516 shares valued at around $194.34 million.
• DTE Energy's recent quarterly earnings reported an EPS of $1.36, which was slightly below analysts' expectations of $1.37, while the company also announced a quarterly dividend of $1.09 per share.

Tortoise Capital Advisors L.L.C. decreased its position in DTE Energy Company (NYSE:DTE - Free Report) by 25.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 127,666 shares of the utilities provider's stock after selling 43,048 shares during the period. Tortoise Capital Advisors L.L.C. owned about 0.06% of DTE Energy worth $17,652,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of DTE Energy during the first quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new stake in DTE Energy during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of DTE Energy during the 1st quarter valued at $28,000. SouthState Corp bought a new stake in shares of DTE Energy in the 1st quarter worth $29,000. Finally, N.E.W. Advisory Services LLC bought a new position in DTE Energy during the first quarter valued at about $31,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

DTE stock traded down $1.4510 during trading on Monday, hitting $138.4890. The company had a trading volume of 987,974 shares, compared to its average volume of 1,389,367. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average price of $135.85 and a two-hundred day moving average price of $134.43. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05. The company has a market cap of $28.75 billion, a P/E ratio of 19.93, a P/E/G ratio of 2.78 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.1%. DTE Energy's payout ratio is 62.73%.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTE. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Barclays upped their price target on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price target on DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Finally, BMO Capital Markets upped their target price on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of "Moderate Buy" and an average price target of $142.43.

DTE Energy Company 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.