Vanguard Group Inc. Has $3.45 Billion Stake in DTE Energy Company (NYSE:DTE)

Key Points

• Vanguard Group Inc. has reduced its stake in DTE Energy by 1.4%, now holding approximately 12.01% of the company, valued at about $3.45 billion.
• DTE Energy reported an EPS of $1.36, missing expectations slightly, but exceeded revenue estimates with $2.91 billion for the quarter.
• The company announced a quarterly dividend of $1.09 per share, with a yield of 3.1%, showcasing a healthy dividend payout ratio of 62.73%.

Vanguard Group Inc. reduced its position in DTE Energy Company (NYSE:DTE - Free Report) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,922,283 shares of the utilities provider's stock after selling 364,097 shares during the quarter. Vanguard Group Inc. owned approximately 12.01% of DTE Energy worth $3,446,004,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of DTE. Graypoint LLC grew its holdings in DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after acquiring an additional 74 shares during the period. UMB Bank n.a. boosted its position in shares of DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of DTE Energy by 2.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR grew its stake in DTE Energy by 1.8% during the first quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after purchasing an additional 81 shares during the period. Finally, First American Bank increased its holdings in DTE Energy by 0.7% in the first quarter. First American Bank now owns 12,304 shares of the utilities provider's stock worth $1,701,000 after purchasing an additional 85 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Trading Up 0.7%

DTE opened at $140.13 on Friday. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $141.54. The firm has a market capitalization of $29.09 billion, a PE ratio of 20.16, a P/E/G ratio of 2.76 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The company's 50-day moving average is $134.74 and its 200 day moving average is $132.77.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, research analysts predict 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. Shareholders of record on Monday, September 15th will be paid 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 dividend payout ratio (DPR) is 62.73%.

Analyst Ratings Changes

DTE has been the topic of a number of research analyst reports. Citigroup restated a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lifted their price target 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. Evercore ISI upped their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company increased their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, DTE Energy currently has an average rating of "Moderate Buy" and an average price target of $141.53.

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.

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