DTE Energy (NYSE:DTE) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lowered its stake in shares of DTE Energy (NYSE:DTE) by 11.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,712 shares of the utilities provider’s stock after selling 481 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in DTE Energy were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. ESL Trust Services LLC acquired a new position in DTE Energy during the 1st quarter valued at approximately $27,000. Rise Advisors LLC boosted its position in DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares during the period. Ridgewood Investments LLC acquired a new position in DTE Energy during the 2nd quarter worth $31,000. Denali Advisors LLC acquired a new position in DTE Energy during the 1st quarter worth $34,000. Finally, Salomon & Ludwin LLC boosted its position in DTE Energy by 82.3% during the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DTE. Mizuho boosted their price target on DTE Energy from $121.00 to $133.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Barclays boosted their price target on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Wells Fargo & Company boosted their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, KeyCorp boosted their price objective on DTE Energy from $126.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $127.58.

DTE Energy Stock Down 0.5 %

Shares of DTE Energy stock opened at $125.70 on Wednesday. The stock’s fifty day moving average is $121.09 and its 200-day moving average is $114.74. The firm has a market capitalization of $26.01 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. DTE Energy has a 12-month low of $90.14 and a 12-month 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. The company had revenue of $2.88 billion for 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 period in the previous year, the firm earned $0.99 earnings per share. Equities analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 3.25%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s 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.