Texas Permanent School Fund Corp Sells 7,774 Shares of DTE Energy (NYSE:DTE)

Texas Permanent School Fund Corp reduced its holdings in shares of DTE Energy (NYSE:DTE) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,134 shares of the utilities provider’s stock after selling 7,774 shares during the quarter. Texas Permanent School Fund Corp’s holdings in DTE Energy were worth $3,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTE. Capital Research Global Investors lifted its holdings in DTE Energy by 1.2% during the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after purchasing an additional 261,623 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after purchasing an additional 1,756,459 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after purchasing an additional 2,060,762 shares during the last quarter. First Trust Advisors LP lifted its holdings in DTE Energy by 2.2% during the 4th quarter. First Trust Advisors LP now owns 781,181 shares of the utilities provider’s stock worth $86,133,000 after purchasing an additional 16,712 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in DTE Energy by 2.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 728,032 shares of the utilities provider’s stock worth $81,642,000 after purchasing an additional 18,514 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on DTE shares. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Scotiabank lifted their price objective on 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 lifted their price objective on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, July 26th. KeyCorp lifted their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Barclays boosted their price target on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $127.17.

DTE Energy Trading Up 1.2 %

Shares of DTE stock opened at $125.95 on Friday. The firm has a market capitalization of $26.06 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.28 and a beta of 0.67. DTE Energy has a twelve month low of $90.14 and a twelve month high of $127.59. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The stock’s fifty day simple moving average is $120.40 and its 200 day simple moving average is $114.45.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share 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 business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, sell-side analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

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