M&T Bank Corp Sells 1,909 Shares of DTE Energy Company (NYSE:DTE)

M&T Bank Corp decreased its stake in shares of DTE Energy Company (NYSE:DTE) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,523 shares of the utilities provider’s stock after selling 1,909 shares during the quarter. M&T Bank Corp’s holdings in DTE Energy were worth $1,040,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Brown Advisory Inc. purchased a new stake in shares of DTE Energy during the 1st quarter valued at about $282,000. Callan Capital LLC purchased a new position in shares of DTE Energy in the first quarter valued at about $218,000. Envestnet Asset Management Inc. lifted its holdings in DTE Energy by 3.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 162,753 shares of the utilities provider’s stock worth $22,504,000 after purchasing an additional 5,684 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of DTE Energy by 1,099.4% during the first quarter. Penserra Capital Management LLC now owns 6,513 shares of the utilities provider’s stock worth $900,000 after acquiring an additional 5,970 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new position in shares of DTE Energy during the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DTE. Citigroup reissued a “buy” rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays dropped their price objective on DTE Energy from $137.00 to $136.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Morgan Stanley lowered their price target on DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Evercore ISI upped their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $141.00.

DTE Energy Price Performance

NYSE DTE opened at $134.17 on Tuesday. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.43 and a beta of 0.44. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The stock’s fifty day moving average price is $134.12 and its 200 day moving average price is $130.81. DTE Energy Company has a 1 year low of $112.65 and a 1 year high of $140.39.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 13.00% and a net margin of 11.25%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the company earned $1.67 earnings per share. As a group, equities research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.25%. DTE Energy’s dividend payout ratio (DPR) is presently 58.92%.

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.