Envestnet Asset Management Inc. Sells 5,812 Shares of DTE Energy Company $DTE

Envestnet Asset Management Inc. trimmed its stake in shares of DTE Energy Company (NYSE:DTE) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,055 shares of the utilities provider’s stock after selling 5,812 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of DTE Energy worth $23,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of DTE Energy by 200.7% in the first quarter. Empowered Funds LLC now owns 9,909 shares of the utilities provider’s stock worth $1,370,000 after purchasing an additional 6,614 shares during the last quarter. Woodline Partners LP boosted its position in DTE Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 17,509 shares of the utilities provider’s stock valued at $2,421,000 after buying an additional 5,072 shares during the period. Intech Investment Management LLC boosted its position in DTE Energy by 6.5% during the 1st quarter. Intech Investment Management LLC now owns 12,687 shares of the utilities provider’s stock valued at $1,754,000 after buying an additional 773 shares during the period. Sivia Capital Partners LLC bought a new stake in DTE Energy in the 2nd quarter worth $203,000. Finally, Apollon Wealth Management LLC increased its position in shares of DTE Energy by 11.1% in the second quarter. Apollon Wealth Management LLC now owns 2,682 shares of the utilities provider’s stock valued at $355,000 after acquiring an additional 267 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of analyst reports. Barclays dropped their target price on shares of DTE Energy from $148.00 to $141.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. BMO Capital Markets dropped their price objective on DTE Energy from $151.00 to $148.00 and set a “market perform” rating for the company in a report on Wednesday, December 24th. UBS Group reduced their target price on DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Scotiabank decreased their target price on DTE Energy from $147.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of DTE Energy from $151.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $147.69.

DTE Energy Trading Up 2.8%

Shares of NYSE DTE opened at $144.87 on Friday. DTE Energy Company has a 1 year low of $123.69 and a 1 year high of $145.41. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.15 and a quick ratio of 0.68. The firm has a 50-day moving average of $132.57 and a 200 day moving average of $136.13. The stock has a market cap of $30.09 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. DTE Energy’s dividend payout ratio (DPR) is 69.97%.

DTE Energy Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.