Meeder Advisory Services Inc. Sells 892 Shares of DTE Energy (NYSE:DTE)

Meeder Advisory Services Inc. lessened its holdings in shares of DTE Energy (NYSE:DTE) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,366 shares of the utilities provider’s stock after selling 892 shares during the period. Meeder Advisory Services Inc.’s holdings in DTE Energy were worth $596,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its stake in DTE Energy by 6,964.9% in the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after buying an additional 2,060,762 shares in the last quarter. Clearbridge Investments LLC lifted its position in DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after acquiring an additional 1,756,459 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in DTE Energy in the 4th quarter worth $74,478,000. Capital Research Global Investors increased its holdings in 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 purchasing an additional 399,646 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of DTE Energy by 109.1% in 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 purchasing an additional 289,663 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho upped their price objective on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Morgan Stanley raised their price target on shares of DTE Energy from $114.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. KeyCorp boosted their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Scotiabank raised their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price target on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $127.17.

DTE Energy Stock Performance

Shares of DTE stock opened at $125.95 on Friday. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.59. The company has a market capitalization of $26.06 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.28 and a beta of 0.67. The company has a 50-day simple moving average of $120.40 and a 200 day simple moving average of $114.45. 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 issued its quarterly earnings data 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 analysts’ expectations 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 company posted $0.99 earnings per share. On average, sell-side analysts predict that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, September 16th. 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.