NewEdge Advisors LLC Sells 291,421 Shares of DTE Energy Company $DTE

NewEdge Advisors LLC reduced its position in DTE Energy Company (NYSE:DTE) by 78.1% in the first quarter, Holdings Channel.com reports. The fund owned 81,820 shares of the utilities provider’s stock after selling 291,421 shares during the period. NewEdge Advisors LLC’s holdings in DTE Energy were worth $11,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Laurel Wealth Advisors LLC bought a new position in shares of DTE Energy during the fourth quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of DTE Energy by 754.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 205 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 181 shares during the last quarter. Torren Management LLC bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in DTE Energy during the fourth quarter valued at approximately $29,000. Finally, Key Financial Inc bought a new position in DTE Energy during the first quarter valued at approximately $29,000. Institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of DTE Energy from $148.00 to $150.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. TD Cowen started coverage on DTE Energy in a research note on Tuesday, July 7th. They issued a “hold” rating and a $166.00 price target on the stock. Barclays cut their price objective on DTE Energy from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Morgan Stanley reissued an “overweight” rating on shares of DTE Energy in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.62.

DTE Energy Stock Up 0.0%

DTE opened at $140.00 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a market capitalization of $29.13 billion, a PE ratio of 22.15, a PEG ratio of 3.06 and a beta of 0.38. The firm’s 50 day simple moving average is $147.23 and its two-hundred day simple moving average is $145.03.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, equities analysts forecast that DTE Energy Company will post 7.71 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy’s payout ratio is currently 73.73%.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the completion of the sale, the vice president owned 6,233 shares in the company, valued at $895,806.76. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.