Capital Asset Advisory Services LLC lowered its position in DTE Energy (NYSE:DTE – Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,861 shares of the utilities provider’s stock after selling 617 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in DTE Energy were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the business. Millennium Management LLC lifted its position in shares of DTE Energy by 224.8% during the 4th quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock valued at $279,708,000 after acquiring an additional 1,647,053 shares during the period. Vanguard Group Inc. boosted its position in shares of DTE Energy by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after purchasing an additional 1,420,586 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of DTE Energy by 459.1% in the 4th quarter. Point72 Asset Management L.P. now owns 1,199,900 shares of the utilities provider’s stock valued at $141,024,000 after buying an additional 985,300 shares during the period. Morgan Stanley increased its position in DTE Energy by 34.8% in the 4th quarter. Morgan Stanley now owns 2,045,650 shares of the utilities provider’s stock valued at $240,425,000 after buying an additional 527,592 shares in the last quarter. Finally, Pictet Asset Management SA raised its stake in DTE Energy by 20.4% during the 1st quarter. Pictet Asset Management SA now owns 2,600,451 shares of the utilities provider’s stock worth $284,853,000 after buying an additional 440,056 shares during the period. Institutional investors own 74.72% of the company’s stock.
DTE Energy Stock Performance
Shares of DTE opened at $102.21 on Friday. DTE Energy has a 52-week low of $100.07 and a 52-week high of $136.63. The stock’s 50-day simple moving average is $108.68 and its 200 day simple moving average is $89.68. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.89. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61.
DTE Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be given a $0.952 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.73%. DTE Energy’s dividend payout ratio (DPR) is presently 59.25%.
Wall Street Analyst Weigh In
A number of brokerages have commented on DTE. 58.com reissued a “maintains” rating on shares of DTE Energy in a research note on Thursday, June 29th. BMO Capital Markets boosted their price target on shares of DTE Energy from $121.00 to $122.00 in a research note on Thursday, July 13th. JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $120.00 to $121.00 in a research report on Wednesday, July 12th. StockNews.com downgraded DTE Energy from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Guggenheim dropped their price objective on DTE Energy from $127.00 to $120.00 in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.07.
Insider Activity at DTE Energy
In other DTE Energy news, SVP Joann Chavez sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $113.53, for a total value of $283,825.00. Following the transaction, the senior vice president now directly owns 12,107 shares in the company, valued at approximately $1,374,507.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 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 solar assets.
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