abrdn plc Purchases 570 Shares of DTE Energy (NYSE:DTE)

abrdn plc boosted its position in shares of DTE Energy (NYSE:DTE) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,902 shares of the utilities provider’s stock after buying an additional 570 shares during the period. abrdn plc’s holdings in DTE Energy were worth $5,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Wetzel Investment Advisors Inc. bought a new stake in shares of DTE Energy in the 4th quarter valued at approximately $115,000. Federated Hermes Inc. lifted its stake in shares of DTE Energy by 27.0% in the 4th quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 234 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of DTE Energy by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,414 shares of the utilities provider’s stock valued at $2,030,000 after purchasing an additional 1,058 shares during the last quarter. Diversified Portfolios Inc. bought a new stake in shares of DTE Energy in the 4th quarter valued at approximately $224,000. Finally, SVB Wealth LLC bought a new stake in shares of DTE Energy in the 4th quarter valued at approximately $220,000. 76.06% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $743,200.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Matthew T. Paul sold 5,850 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $743,200.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,095 shares of company stock worth $2,168,183. 0.61% of the stock is currently owned by company insiders.

DTE Energy Trading Down 1.5 %

DTE opened at $109.52 on Friday. The stock’s fifty day moving average is $109.15 and its two-hundred day moving average is $106.21. The company has a market capitalization of $22.66 billion, a P/E ratio of 17.92, a PEG ratio of 2.77 and a beta of 0.64. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a return on equity of 11.63% and a net margin of 10.36%. Analysts forecast that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a $1.02 dividend. The ex-dividend date was Friday, March 15th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.73%. DTE Energy’s dividend payout ratio is presently 66.78%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DTE shares. JPMorgan Chase & Co. raised their price objective on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. KeyCorp raised their price target on DTE Energy from $106.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price target for the company. in a research note on Monday, January 22nd. Finally, Morgan Stanley raised their price target on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $115.10.

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.