Wealthspire Advisors LLC Has $1.06 Million Stock Position in DTE Energy (NYSE:DTE)

Wealthspire Advisors LLC reduced its position in DTE Energy (NYSE:DTE) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,500 shares of the utilities provider’s stock after selling 1,240 shares during the period. Wealthspire Advisors LLC’s holdings in DTE Energy were worth $1,055,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dai ichi Life Insurance Company Ltd grew its position in DTE Energy by 146.6% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 52,141 shares of the utilities provider’s stock worth $5,788,000 after purchasing an additional 31,000 shares in the last quarter. HBK Sorce Advisory LLC acquired a new stake in shares of DTE Energy in the second quarter worth $213,000. DekaBank Deutsche Girozentrale grew its holdings in shares of DTE Energy by 1.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 36,105 shares of the utilities provider’s stock valued at $3,986,000 after buying an additional 607 shares in the last quarter. Forsta AP Fonden raised its position in DTE Energy by 14.9% during the second quarter. Forsta AP Fonden now owns 54,600 shares of the utilities provider’s stock valued at $6,061,000 after buying an additional 7,100 shares during the period. Finally, American Century Companies Inc. lifted its stake in DTE Energy by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 81,832 shares of the utilities provider’s stock worth $9,084,000 after acquiring an additional 1,923 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DTE shares. Mizuho lifted their target price on DTE Energy from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Wells Fargo & Company upped their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays lifted their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. KeyCorp upped their price target 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, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.17.

DTE Energy Stock Performance

DTE opened at $125.95 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The company has a market cap of $26.06 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The stock has a 50-day moving average of $120.40 and a 200-day moving average of $114.49. DTE Energy has a 52-week low of $90.14 and a 52-week high of $127.59.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities research analysts forecast that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is 66.78%.

DTE Energy Profile

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.