DTE Energy (NYSE:DTE) Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in DTE Energy (NYSE:DTEFree Report) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,287 shares of the utilities provider’s stock after selling 37,958 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of DTE Energy worth $17,638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC grew its holdings in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares in the last quarter. MV Capital Management Inc. boosted its stake in DTE Energy by 104.4% during the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares in the last quarter. Creekmur Asset Management LLC bought a new position in DTE Energy during the 4th quarter valued at $53,000. Principal Securities Inc. bought a new position in DTE Energy during the 4th quarter valued at $54,000. Finally, Quarry LP bought a new position in DTE Energy during the 4th quarter valued at $63,000. 76.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of research reports. Barclays increased their price target on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. KeyCorp increased their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. BMO Capital Markets increased their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Finally, Scotiabank reduced their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $115.67.

Read Our Latest Research Report on DTE

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock valued at $1,702,444 over the last three months. 0.28% of the stock is currently owned by insiders.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $109.77 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. DTE Energy has a 1 year low of $90.14 and a 1 year high of $117.44. The business has a fifty day simple moving average of $112.84 and a 200 day simple moving average of $109.88. The firm has a market cap of $22.72 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.99 and a beta of 0.66.

DTE Energy (NYSE:DTEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. As a group, sell-side analysts predict that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

About DTE Energy

(Free Report)

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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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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