DTE Energy Company $DTE Position Reduced by Trexquant Investment LP

Key Points

• Trexquant Investment LP has reduced its stake in DTE Energy Company by 28.8%, selling 23,002 shares during the 1st quarter, leaving it with 56,736 shares valued at approximately $7.85 million.
• Other institutional investors like GAMMA Investing LLC and JPMorgan Chase & Co. have significantly increased their holdings in DTE Energy, reflecting a strong interest in the company with institutional ownership now at 76.06%.
• DTE Energy recently declared a quarterly dividend of $1.09 per share, which will be paid on October 15, 2023, with an annualized yield of 3.2%.

Trexquant Investment LP lowered its position in DTE Energy Company (NYSE:DTE - Free Report) by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,736 shares of the utilities provider's stock after selling 23,002 shares during the period. Trexquant Investment LP's holdings in DTE Energy were worth $7,845,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in DTE Energy by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock valued at $329,988,000 after purchasing an additional 12,554 shares during the period. Northern Trust Corp lifted its position in DTE Energy by 0.5% in the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock valued at $253,979,000 after purchasing an additional 9,664 shares during the period. JPMorgan Chase & Co. lifted its position in DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after purchasing an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. lifted its position in DTE Energy by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock valued at $181,978,000 after purchasing an additional 9,443 shares during the period. Finally, GAMMA Investing LLC lifted its position in DTE Energy by 14,878.4% in the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after purchasing an additional 1,175,689 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DTE shares. BMO Capital Markets raised their price objective on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Barclays raised their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research note on Thursday, August 21st. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.38.

DTE Energy Trading Up 0.5%

Shares of NYSE:DTE traded up $0.67 during trading on Thursday, reaching $136.16. The stock had a trading volume of 421,790 shares, compared to its average volume of 1,365,391. The business has a fifty day moving average price of $136.59 and a 200-day moving average price of $134.95. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The stock has a market cap of $28.27 billion, a P/E ratio of 19.59, a PEG ratio of 2.71 and a beta of 0.42. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data 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). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 3.2%. DTE Energy's dividend payout ratio (DPR) is currently 62.73%.

Insider Transactions at DTE Energy

In other DTE Energy 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 transaction of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.