Wealthcare Advisory Partners LLC Trims Stake in DTE Energy Co (NYSE:DTE)

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Wealthcare Advisory Partners LLC trimmed its position in DTE Energy Co (NYSE:DTE) by 33.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 205 shares of the utilities provider’s stock after selling 103 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in DTE Energy were worth $26,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Utah Retirement Systems increased its holdings in shares of DTE Energy by 0.3% in the fourth quarter. Utah Retirement Systems now owns 33,780 shares of the utilities provider’s stock worth $3,726,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in DTE Energy by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the utilities provider’s stock worth $1,198,000 after acquiring an additional 100 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in DTE Energy by 6.3% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,742 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 103 shares during the last quarter. Private Capital Group LLC increased its stake in DTE Energy by 17.0% during the first quarter. Private Capital Group LLC now owns 735 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 107 shares during the last quarter. Finally, Kaizen Advisory LLC increased its stake in DTE Energy by 29.0% during the fourth quarter. Kaizen Advisory LLC now owns 481 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 108 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:DTE traded up $0.04 during trading hours on Friday, hitting $128.91. 16,753 shares of the company’s stock traded hands, compared to its average volume of 652,903. DTE Energy Co has a 1 year low of $95.40 and a 1 year high of $131.24. The firm has a market capitalization of $23.66 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 3.46 and a beta of 0.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.61.

DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.10. DTE Energy had a return on equity of 10.99% and a net margin of 8.30%. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. Equities research analysts expect that DTE Energy Co will post 6.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.78 annualized dividend and a dividend yield of 2.93%. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.

Several equities research analysts have weighed in on the company. Zacks Investment Research raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. KeyCorp assumed coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price objective on the stock. Bank of America reduced their price objective on DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research note on Monday, June 3rd. Finally, Credit Suisse Group set a $117.00 price objective on DTE Energy and gave the stock a “sell” rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $122.15.

In related news, Chairman Gerard M. Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $124.79, for a total value of $1,247,900.00. Following the completion of the sale, the chairman now owns 78,906 shares in the company, valued at $9,846,679.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth G. Shaw purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $124.27 per share, with a total value of $248,540.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $683,485. The disclosure for this purchase can be found here. Insiders have sold 21,737 shares of company stock valued at $2,744,715 in the last 90 days. Company insiders own 0.55% of the company’s stock.

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DTE Energy Company Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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