DTE Energy Company $DTE Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in shares of DTE Energy Company (NYSE:DTE) by 4.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 358,901 shares of the utilities provider’s stock after selling 16,575 shares during the period. Rhumbline Advisers’ holdings in DTE Energy were worth $50,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new position in DTE Energy during the third quarter worth $28,000. Clean Yield Group purchased a new stake in shares of DTE Energy in the 3rd quarter valued at $28,000. Cloud Capital Management LLC acquired a new position in DTE Energy during the 3rd quarter worth about $28,000. Capital A Wealth Management LLC boosted its holdings in DTE Energy by 5,775.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 235 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 231 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in DTE Energy in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Performance

NYSE:DTE opened at $144.87 on Friday. DTE Energy Company has a 12 month low of $123.69 and a 12 month high of $145.41. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.15 and a quick ratio of 0.68. The firm has a market capitalization of $30.09 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The business’s fifty day moving average price is $132.57 and its 200 day moving average price is $136.13.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. DTE Energy’s dividend payout ratio (DPR) is 69.97%.

Wall Street Analyst Weigh In

DTE has been the topic of several research reports. Wall Street Zen raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. reduced their target price on shares of DTE Energy from $151.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Bank of America raised their price target on shares of DTE Energy from $153.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Morgan Stanley upped their price objective on DTE Energy from $142.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday, January 21st. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.69.

DTE Energy Company 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.