Assenagon Asset Management S.A. Lowers Holdings in DTE Energy Company (NYSE:DTE)

Assenagon Asset Management S.A. decreased its position in DTE Energy Company (NYSE:DTE) by 7.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,635 shares of the utilities provider’s stock after selling 443 shares during the period. Assenagon Asset Management S.A.’s holdings in DTE Energy were worth $779,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 336 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 2,642 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of DTE Energy by 39.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 1,618 shares during the period. M&T Bank Corp boosted its holdings in shares of DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock valued at $1,139,000 after purchasing an additional 395 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of DTE Energy by 2.0% in the fourth quarter. Truist Financial Corp now owns 12,027 shares of the utilities provider’s stock valued at $1,452,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE opened at $131.73 on Thursday. DTE Energy Company has a 12 month low of $108.40 and a 12 month high of $140.39. The stock has a fifty day moving average price of $134.95 and a 200-day moving average price of $129.31. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82. The firm has a market cap of $27.34 billion, a PE ratio of 17.80, a P/E/G ratio of 2.40 and a beta of 0.45.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The firm 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 posted $1.67 EPS. Equities research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s payout ratio is 58.92%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup restated a “buy” rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. BMO Capital Markets upped their target price on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a report on Monday, April 21st. Wells Fargo & Company upped their target price on DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Evercore ISI upped their target price on DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.93.

DTE Energy Company 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.