Voya Investment Management LLC Sells 46,021 Shares of DTE Energy Company $DTE

Key Points

• Voya Investment Management LLC reduced its stake in DTE Energy Company by 13.5%, selling 46,021 shares and holding 293,664 shares, valued at approximately $40.6 million.
• DTE Energy reported a quarterly EPS of $1.36, slightly missing estimates, while achieving a revenue of $2.91 billion, exceeding analyst expectations.
• The company announced a dividend of $1.09 per share, with a dividend yield of 3.2%, set to be paid on October 15th.

Voya Investment Management LLC lessened its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,664 shares of the utilities provider's stock after selling 46,021 shares during the quarter. Voya Investment Management LLC owned 0.14% of DTE Energy worth $40,605,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in shares of DTE Energy in the first quarter worth $25,000. Olde Wealth Management LLC bought a new stake in shares of DTE Energy in the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DTE Energy in the first quarter worth $28,000. SouthState Corp bought a new stake in shares of DTE Energy in the first quarter worth $29,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of DTE Energy in the first quarter worth $31,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

NYSE:DTE opened at $136.74 on Friday. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The company has a market cap of $28.39 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.72 and a beta of 0.42. The firm's fifty day moving average price is $137.23 and its two-hundred day moving average price is $135.20. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. Equities analysts expect that DTE Energy Company will post 7.18 earnings per share for the current 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 issued a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is currently 62.73%.

Insider Activity at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DTE has been the topic of several analyst reports. Barclays upped their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley set a $140.00 price target on shares of DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. BMO Capital Markets upped their price target on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. JPMorgan Chase & Co. upped their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Citigroup reaffirmed a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and an average target price of $144.25.

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.

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