Procyon Advisors LLC Boosts Holdings in DTE Energy (NYSE:DTE)

Procyon Advisors LLC raised its position in shares of DTE Energy (NYSE:DTE) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,000 shares of the utilities provider’s stock after acquiring an additional 502 shares during the period. Procyon Advisors LLC’s holdings in DTE Energy were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DTE. Capital World Investors grew its holdings in DTE Energy by 123.2% during the 4th quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider’s stock valued at $823,905,000 after purchasing an additional 3,766,221 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of DTE Energy by 14,878.4% during the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider’s stock valued at $163,655,000 after buying an additional 1,175,689 shares during the period. Vanguard Group Inc. boosted its position in shares of DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider’s stock valued at $3,053,330,000 after buying an additional 879,670 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of DTE Energy by 1,794.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider’s stock valued at $111,159,000 after buying an additional 871,978 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of DTE Energy by 750.0% in the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider’s stock worth $116,482,000 after buying an additional 851,169 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the subject of a number of recent analyst reports. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Wells Fargo & Company raised their price target on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. Finally, Citigroup restated a “buy” rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Price Performance

NYSE DTE opened at $133.85 on Friday. The company has a market cap of $27.78 billion, a PE ratio of 19.77, a P/E/G ratio of 2.41 and a beta of 0.45. The firm’s 50 day moving average price is $134.57 and its 200-day moving average price is $128.82. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a 52-week low of $108.40 and a 52-week high of $140.39.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. Sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.26%. DTE Energy’s dividend payout ratio is presently 58.92%.

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.