FORVIS Wealth Advisors LLC Grows Stock Position in DTE Energy (NYSE:DTE)

FORVIS Wealth Advisors LLC lifted its stake in DTE Energy (NYSE:DTE) by 8.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,544 shares of the utilities provider’s stock after buying an additional 1,358 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in DTE Energy were worth $1,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners grew its position in shares of DTE Energy by 66.8% during the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after acquiring an additional 1,018,212 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of DTE Energy in the fourth quarter valued at approximately $74,478,000. Capital Research Global Investors raised its stake in shares of DTE Energy by 1.9% during the 4th quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after buying an additional 399,646 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of DTE Energy by 109.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock valued at $61,202,000 after buying an additional 289,663 shares in the last quarter. Finally, UBS Group AG grew its stake in DTE Energy by 108.3% in the 4th quarter. UBS Group AG now owns 275,295 shares of the utilities provider’s stock valued at $30,354,000 after acquiring an additional 143,112 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DTE shares. Scotiabank decreased their price target 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. JPMorgan Chase & Co. lifted their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. KeyCorp lifted their target price on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, BMO Capital Markets increased their target price on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, DTE Energy has an average rating of “Hold” and an average price target of $115.67.

Insider Activity

In related news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,698 shares of company stock worth $1,702,444. 0.28% of the stock is currently owned by company insiders.

DTE Energy Trading Up 0.3 %

Shares of DTE traded up $0.34 during midday trading on Friday, hitting $109.58. 20,332 shares of the stock were exchanged, compared to its average volume of 1,097,612. DTE Energy has a 52-week low of $90.14 and a 52-week high of $117.44. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a fifty day simple moving average of $112.84 and a 200 day simple moving average of $109.89. The firm has a market cap of $22.68 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.99 and a beta of 0.66.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results 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 analyst estimates of $3.81 billion. On average, research analysts anticipate that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.

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.