DTE Energy (NYSE:DTE) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its holdings in DTE Energy (NYSE:DTE) by 11.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,329 shares of the utilities provider’s stock after selling 442 shares during the period. TIAA Trust National Association’s holdings in DTE Energy were worth $370,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Grayhawk Investment Strategies Inc. acquired a new stake in shares of DTE Energy in the 4th quarter valued at about $1,305,000. Intech Investment Management LLC raised its stake in DTE Energy by 62.7% during the fourth quarter. Intech Investment Management LLC now owns 26,421 shares of the utilities provider’s stock valued at $2,913,000 after buying an additional 10,180 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock worth $1,202,000 after buying an additional 8,603 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of DTE Energy by 66.5% in the 4th quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock worth $3,261,000 after acquiring an additional 11,809 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of DTE Energy by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock valued at $13,934,000 after acquiring an additional 11,218 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DTE shares. KeyCorp raised their price objective on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Bank of America increased their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank lifted their price target on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised their target price on shares of DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.92.

DTE Energy Stock Performance

Shares of NYSE DTE opened at $123.14 on Friday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59. The company has a market cap of $25.48 billion, a PE ratio of 20.15, a P/E/G ratio of 2.29 and a beta of 0.67. The stock has a 50 day simple moving average of $118.84 and a 200-day simple moving average of $113.80. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

DTE Energy (NYSE:DTE) last announced its quarterly 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. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, equities research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.31%. DTE Energy’s dividend payout ratio is presently 66.78%.

DTE Energy Company 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.