Sequoia Financial Advisors LLC Has $2.08 Million Position in DTE Energy Company (NYSE:DTE)

Sequoia Financial Advisors LLC reduced its position in shares of DTE Energy Company (NYSE:DTE) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,010 shares of the utilities provider’s stock after selling 1,400 shares during the period. Sequoia Financial Advisors LLC’s holdings in DTE Energy were worth $2,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider’s stock worth $1,250,000 after purchasing an additional 78 shares during the last quarter. First American Bank lifted its holdings in DTE Energy by 0.7% during the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider’s stock worth $1,701,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 90 shares during the last quarter. My Legacy Advisors LLC lifted its holdings in DTE Energy by 2.4% during the 1st quarter. My Legacy Advisors LLC now owns 4,132 shares of the utilities provider’s stock worth $571,000 after purchasing an additional 95 shares during the last quarter. Finally, Bernard Wealth Management Corp. lifted its holdings in DTE Energy by 1.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 10,190 shares of the utilities provider’s stock worth $1,409,000 after purchasing an additional 101 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of NYSE DTE opened at $131.65 on Friday. DTE Energy Company has a fifty-two week low of $108.40 and a fifty-two week high of $140.39. The business has a fifty day moving average price of $134.99 and a two-hundred day moving average price of $129.85. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.87 and a quick ratio of 0.59. The stock has a market capitalization of $27.32 billion, a PE ratio of 17.79, a P/E/G ratio of 2.39 and a beta of 0.45.

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

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.31%. DTE Energy’s payout ratio is 58.92%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DTE shares. Guggenheim lifted their price target on DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Morgan Stanley dropped their price target on DTE Energy from $136.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Wall Street Zen cut DTE Energy from a “hold” rating to a “sell” rating in a report on Friday, May 16th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.93.

About DTE Energy

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.