Envestnet Asset Management Inc. Lowers Holdings in DTE Energy Company $DTE

Envestnet Asset Management Inc. trimmed its position in shares of DTE Energy Company (NYSE:DTE) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 168,055 shares of the utilities provider’s stock after selling 5,812 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DTE Energy were worth $23,768,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Premier Path Wealth Partners LLC bought a new position in shares of DTE Energy in the third quarter worth approximately $209,000. Jones Financial Companies Lllp raised its holdings in DTE Energy by 19.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 17,835 shares of the utilities provider’s stock worth $2,487,000 after acquiring an additional 2,893 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in DTE Energy by 49.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 242,811 shares of the utilities provider’s stock worth $34,205,000 after acquiring an additional 79,870 shares during the last quarter. Carrera Capital Advisors lifted its position in DTE Energy by 2.7% in the 3rd quarter. Carrera Capital Advisors now owns 3,433 shares of the utilities provider’s stock valued at $489,000 after acquiring an additional 91 shares in the last quarter. Finally, Transcend Capital Advisors LLC purchased a new stake in DTE Energy during the 3rd quarter valued at $210,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DTE has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price target on DTE Energy from $150.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of DTE Energy in a research report on Wednesday, January 21st. UBS Group lowered their target price on shares of DTE Energy from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. JPMorgan Chase & Co. dropped their price target on shares of DTE Energy from $151.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Finally, Wells Fargo & Company decreased their price objective on shares of DTE Energy from $157.00 to $152.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.69.

DTE Energy Stock Up 2.8%

NYSE DTE opened at $144.87 on Friday. DTE Energy Company has a 52 week low of $123.69 and a 52 week high of $145.41. The company has a quick ratio of 0.68, a current ratio of 1.15 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $30.09 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The stock’s 50-day moving average price is $132.57 and its 200-day moving average price is $136.13.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a dividend of $1.165 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $4.66 annualized dividend and a yield of 3.2%. DTE Energy’s payout ratio is currently 69.97%.

DTE Energy Company Profile

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.