Wealth Enhancement Advisory Services LLC Increases Stock Holdings in DTE Energy (NYSE:DTE)

Wealth Enhancement Advisory Services LLC increased its holdings in DTE Energy (NYSE:DTE) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,263 shares of the utilities provider’s stock after acquiring an additional 3,273 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in DTE Energy were worth $1,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ESL Trust Services LLC purchased a new stake in DTE Energy in the first quarter worth $27,000. Rise Advisors LLC lifted its stake in DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares during the period. Denali Advisors LLC purchased a new stake in DTE Energy in the first quarter worth $34,000. Salomon & Ludwin LLC lifted its stake in DTE Energy by 82.3% in the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 195 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in DTE Energy in the fourth quarter worth $53,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company raised their price objective on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays raised their price objective on DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets raised their price objective on DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a research report on Monday, July 15th. Morgan Stanley lowered their price objective on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.36.

Insider Buying and Selling

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the sale, the insider now directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

DTE Energy Price Performance

NYSE DTE opened at $121.89 on Monday. DTE Energy has a one year low of $90.14 and a one year high of $126.76. The stock has a 50-day moving average of $115.04 and a 200 day moving average of $111.96. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.27 and a beta of 0.66. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the company earned $0.99 EPS. On average, sell-side analysts forecast that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.35%. DTE Energy’s payout ratio is 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.