PFG Investments LLC Sells 1,526 Shares of DTE Energy (NYSE:DTE)

PFG Investments LLC decreased its holdings in DTE Energy (NYSE:DTE) by 15.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,278 shares of the utilities provider’s stock after selling 1,526 shares during the period. PFG Investments LLC’s holdings in DTE Energy were worth $919,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DTE. ESL Trust Services LLC purchased a new stake in shares of DTE Energy in the first quarter worth about $27,000. Rise Advisors LLC lifted its position in shares of 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 buying an additional 129 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of DTE Energy in the second quarter worth about $31,000. Denali Advisors LLC purchased a new stake in shares of DTE Energy in the first quarter worth about $34,000. Finally, Salomon & Ludwin LLC lifted its position in shares of 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 buying an additional 195 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.8 %

Shares of NYSE DTE opened at $125.58 on Wednesday. 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 business’s 50 day moving average price is $119.47 and its 200-day moving average price is $114.12. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $127.59. The company has a market cap of $25.99 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.26 and a beta of 0.67.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share 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 firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.99 earnings per share. On average, sell-side analysts expect that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.25%. DTE Energy’s payout ratio is 66.78%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley boosted their target price on DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. KeyCorp boosted their target price on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. LADENBURG THALM/SH SH started coverage on DTE Energy in a research report on Wednesday, August 14th. They set a “buy” rating and a $131.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $127.17.

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.