DTE Energy Company $DTE Position Boosted by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC grew its holdings in shares of DTE Energy Company (NYSE:DTE) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,981 shares of the utilities provider’s stock after purchasing an additional 641 shares during the period. Integrated Wealth Concepts LLC’s holdings in DTE Energy were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in DTE Energy during the first quarter worth approximately $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy during the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy during the first quarter worth approximately $28,000. SouthState Corp bought a new stake in shares of DTE Energy during the 1st quarter worth $29,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of DTE Energy during the 1st quarter worth $31,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Citigroup reiterated 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. Finally, BMO Capital Markets raised their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a report on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.25.

DTE Energy Stock Performance

DTE stock opened at $136.74 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The stock has a market cap of $28.39 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.72 and a beta of 0.42. The firm has a 50 day simple moving average of $137.23 and a 200 day simple moving average of $135.18. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. Research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. DTE Energy’s dividend payout ratio (DPR) is presently 62.73%.

Insider Transactions at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

DTE Energy 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.