Executive Wealth Management LLC boosted its stake in DTE Energy Co (NYSE:DTE) by 7.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,984 shares of the utilities provider’s stock after buying an additional 2,784 shares during the quarter. DTE Energy makes up 0.7% of Executive Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Executive Wealth Management LLC’s holdings in DTE Energy were worth $4,857,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also made changes to their positions in DTE. Kistler Tiffany Companies LLC bought a new position in DTE Energy in the 2nd quarter valued at $26,000. Weaver Consulting Group bought a new position in DTE Energy in the 1st quarter valued at $29,000. WP Advisors LLC bought a new position in DTE Energy in the 1st quarter valued at $32,000. Atlas Capital Advisors LLC bought a new position in DTE Energy in the 1st quarter valued at $33,000. Finally, TCG Advisors LP bought a new position in DTE Energy in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.
Shares of NYSE DTE opened at $128.23 on Wednesday. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.47 and a beta of 0.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.75 and a quick ratio of 0.54. The business has a 50-day simple moving average of $129.22. DTE Energy Co has a twelve month low of $106.41 and a twelve month high of $132.09.
DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.98 billion. DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, sell-side analysts expect that DTE Energy Co will post 6.21 EPS for the current fiscal year.
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 paid a $0.945 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.78 dividend on an annualized basis and a yield of 2.95%. DTE Energy’s dividend payout ratio is currently 60.00%.
A number of research analysts have recently commented on the company. Bank of America dropped their price target on DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. KeyCorp assumed coverage on DTE Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price target on the stock. UBS Group upped their price target on DTE Energy from $132.00 to $134.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Mizuho assumed coverage on DTE Energy in a research report on Monday. They set a “neutral” rating and a $131.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $126.36.
In other DTE Energy news, insider Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $127.84, for a total value of $1,278,400.00. Following the transaction, the insider now directly owns 6,700 shares in the company, valued at approximately $856,528. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lisa A. Muschong sold 237 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $128.86, for a total value of $30,539.82. Following the completion of the transaction, the vice president now owns 2,100 shares in the company, valued at $270,606. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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