Hennessy Advisors Inc. Trims Stake in DTE Energy Company $DTE

Hennessy Advisors Inc. lessened its holdings in DTE Energy Company (NYSE:DTE) by 13.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,604 shares of the utilities provider’s stock after selling 6,700 shares during the period. Hennessy Advisors Inc.’s holdings in DTE Energy were worth $6,308,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in DTE Energy by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 25,964,872 shares of the utilities provider’s stock worth $3,439,307,000 after acquiring an additional 1,042,589 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of DTE Energy by 176.5% during the second quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider’s stock worth $134,474,000 after purchasing an additional 648,007 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of DTE Energy by 65.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock worth $223,019,000 after purchasing an additional 637,378 shares during the last quarter. State Street Corp raised its stake in DTE Energy by 2.2% in the second quarter. State Street Corp now owns 10,558,531 shares of the utilities provider’s stock valued at $1,409,833,000 after purchasing an additional 222,353 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in DTE Energy by 18.8% during the second quarter. Panagora Asset Management Inc. now owns 1,186,434 shares of the utilities provider’s stock valued at $157,155,000 after purchasing an additional 187,875 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of a number of research analyst reports. UBS Group decreased their price target on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Barclays increased their target price on DTE Energy from $138.00 to $148.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. BMO Capital Markets lowered their price target on DTE Energy from $151.00 to $148.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 24th. Bank of America upped their price objective on DTE Energy from $153.00 to $154.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Scotiabank reduced their price objective on DTE Energy from $147.00 to $146.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.33.

DTE Energy Stock Performance

NYSE DTE opened at $129.14 on Friday. The company has a 50-day simple moving average of $133.66 and a two-hundred day simple moving average of $135.94. DTE Energy Company has a 12-month low of $116.30 and a 12-month high of $143.79. The firm has a market cap of $26.82 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.53 and a beta of 0.49. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 2.01.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, October 30th. The utilities provider reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.15. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.23 billion. DTE Energy had a return on equity of 12.63% and a net margin of 9.34%.During the same quarter in the previous year, the company posted $2.22 EPS. DTE Energy has set its FY 2025 guidance at 7.090-7.230 EPS and its FY 2026 guidance at 7.590-7.730 EPS. On average, equities analysts forecast that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be paid a $1.165 dividend. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $1.09. This represents a $4.66 annualized dividend and a dividend yield of 3.6%. DTE Energy’s payout ratio is presently 69.97%.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.