Federated Hermes Inc. Raises Holdings in DTE Energy (NYSE:DTE)

Federated Hermes Inc. raised its holdings in DTE Energy (NYSE:DTE) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,100 shares of the utilities provider’s stock after purchasing an additional 234 shares during the quarter. Federated Hermes Inc.’s holdings in DTE Energy were worth $121,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DTE. Ameriprise Financial Inc. raised its holdings in DTE Energy by 16.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after buying an additional 724,561 shares during the period. Invesco Ltd. lifted its holdings in shares of DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after acquiring an additional 137,960 shares during the last quarter. Northern Trust Corp boosted its position in shares of DTE Energy by 1.5% during the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock worth $190,937,000 after purchasing an additional 27,891 shares during the period. California Public Employees Retirement System increased its holdings in DTE Energy by 2.3% in the 3rd quarter. California Public Employees Retirement System now owns 1,232,976 shares of the utilities provider’s stock valued at $122,410,000 after purchasing an additional 27,216 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in DTE Energy by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,180,851 shares of the utilities provider’s stock valued at $117,235,000 after purchasing an additional 8,783 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 6,070 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares in the company, valued at $1,819,869.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Lisa A. Muschong sold 2,775 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total value of $300,893.25. Following the completion of the sale, the vice president now owns 5,469 shares in the company, valued at $593,003.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Joann Chavez sold 6,070 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total value of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,095 shares of company stock valued at $2,168,183. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DTE shares. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. Scotiabank cut their target price on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Barclays increased their price target on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, Morgan Stanley boosted their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

DTE Energy Price Performance

DTE stock opened at $112.49 on Tuesday. The business has a 50 day simple moving average of $109.62 and a 200-day simple moving average of $106.87. The company has a market capitalization of $23.28 billion, a P/E ratio of 18.41, a PEG ratio of 2.81 and a beta of 0.64. DTE Energy has a twelve month low of $90.14 and a twelve month high of $116.73. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. As a group, equities analysts anticipate that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio is presently 66.78%.

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.