Sigma Planning Corp Cuts Position in DTE Energy Company $DTE

Sigma Planning Corp lowered its holdings in DTE Energy Company (NYSE:DTE) by 9.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,200 shares of the utilities provider’s stock after selling 4,988 shares during the quarter. Sigma Planning Corp’s holdings in DTE Energy were worth $7,193,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of DTE Energy in the second quarter valued at about $3,915,284,000. Jupiter Topco LLC purchased a new position in DTE Energy in the second quarter valued at about $477,264,000. Bank of America Corp DE acquired a new stake in shares of DTE Energy during the 2nd quarter valued at approximately $417,001,000. Millennium Management LLC boosted its stake in shares of DTE Energy by 227.4% during the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock worth $352,016,000 after acquiring an additional 1,895,631 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of DTE Energy during the 2nd quarter worth approximately $199,563,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

NYSE DTE opened at $135.75 on Monday. DTE Energy Company has a fifty-two week low of $126.23 and a fifty-two week high of $155.74. The stock has a market cap of $28.25 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.95 and a beta of 0.38. The business has a fifty day moving average of $144.97 and a 200-day moving average of $145.37. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.During the same quarter last year, the company earned $1.36 earnings per share. As a group, analysts predict that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio is 73.73%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research reports. Mizuho lowered their price target on DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a report on Thursday. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. JPMorgan Chase & Co. raised their price target on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. Finally, TD Cowen started coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $157.00.

DTE Energy Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.