Fifth Third Wealth Advisors LLC Sells 124 Shares of DTE Energy Company $DTE

Fifth Third Wealth Advisors LLC lessened its holdings in DTE Energy Company (NYSE:DTE) by 5.1% in the second quarter, Holdings Channel reports. The institutional investor owned 2,325 shares of the utilities provider’s stock after selling 124 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in DTE Energy were worth $308,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in DTE Energy by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider’s stock worth $1,184,000 after purchasing an additional 658 shares during the last quarter. Fifth Third Bancorp raised its holdings in DTE Energy by 3.5% during the 1st quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider’s stock worth $1,065,000 after purchasing an additional 264 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in DTE Energy by 8.2% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 59,452 shares of the utilities provider’s stock worth $8,220,000 after purchasing an additional 4,515 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in DTE Energy by 14.0% during the 1st quarter. Sagespring Wealth Partners LLC now owns 3,309 shares of the utilities provider’s stock worth $458,000 after purchasing an additional 406 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in DTE Energy by 9.0% during the 1st quarter. QRG Capital Management Inc. now owns 34,897 shares of the utilities provider’s stock worth $4,825,000 after purchasing an additional 2,884 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy 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 completion of the sale, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

DTE Energy Stock Performance

NYSE DTE opened at $140.12 on Tuesday. The company has a fifty day simple moving average of $138.38 and a 200 day simple moving average of $135.90. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $143.79. 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 market cap of $29.09 billion, a P/E ratio of 20.16, a PEG ratio of 3.01 and a beta of 0.42.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. Sell-side analysts predict that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DTE shares. BMO Capital Markets raised their price target on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a report on Monday, August 25th. Morgan Stanley lowered their price target on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. UBS Group raised their price objective on shares of DTE Energy from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $145.25.

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.