Stonegate Investment Group LLC Cuts Stake in DTE Energy Company (NYSE:DTE)

Stonegate Investment Group LLC lessened its stake in DTE Energy Company (NYSE:DTE) by 4.5% in the first quarter, HoldingsChannel.com reports. The firm owned 2,096 shares of the utilities provider’s stock after selling 98 shares during the quarter. Stonegate Investment Group LLC’s holdings in DTE Energy were worth $290,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at about $38,000. Bank of New Hampshire purchased a new position in shares of DTE Energy in the 1st quarter valued at about $55,000. Colonial Trust Co SC increased its holdings in shares of DTE Energy by 1,266.7% in the 4th quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 608 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at about $87,000. Finally, Optiver Holding B.V. increased its holdings in shares of DTE Energy by 82.1% in the 4th quarter. Optiver Holding B.V. now owns 785 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. Citigroup restated a “buy” rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Evercore ISI raised their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.93.

DTE Energy Price Performance

DTE Energy stock opened at $132.30 on Monday. DTE Energy Company has a 12-month low of $108.40 and a 12-month high of $140.39. The stock has a market capitalization of $27.45 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.40 and a beta of 0.45. The firm’s 50-day moving average is $135.06 and its two-hundred day moving average is $129.53. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the company earned $1.67 EPS. Equities analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid 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 dividend yield of 3.30%. DTE Energy’s dividend payout ratio is currently 58.92%.

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.