Patton Albertson Miller Group LLC cut its position in shares of DTE Energy Company (NYSE:DTE) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 20,706 shares of the utilities provider’s stock after selling 1,485 shares during the period. DTE Energy comprises 1.0% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 21st largest position. Patton Albertson Miller Group LLC’s holdings in DTE Energy were worth $2,215,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in DTE Energy by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,612,462 shares of the utilities provider’s stock worth $1,900,519,000 after buying an additional 220,454 shares during the period. BlackRock Inc. raised its stake in DTE Energy by 2,370.1% in the first quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock worth $1,478,058,000 after buying an additional 13,889,160 shares during the period. State Street Corp raised its stake in DTE Energy by 1.4% in the first quarter. State Street Corp now owns 9,375,298 shares of the utilities provider’s stock worth $957,313,000 after buying an additional 129,352 shares during the period. AQR Capital Management LLC raised its stake in DTE Energy by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock worth $334,567,000 after buying an additional 461,310 shares during the period. Finally, Victory Capital Management Inc. raised its stake in DTE Energy by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,911,309 shares of the utilities provider’s stock worth $195,164,000 after buying an additional 113,658 shares during the period. 67.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DTE Energy Company (DTE) opened at 109.06 on Friday. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of 18.78 and a beta of 0.21. The stock’s 50 day moving average price is $106.93 and its 200 day moving average price is $104.19. DTE Energy Company has a one year low of $89.66 and a one year high of $111.35.

DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities analysts anticipate that DTE Energy Company will post $5.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s payout ratio is 56.60%.

TRADEMARK VIOLATION WARNING: “DTE Energy Company (DTE) Shares Sold by Patton Albertson Miller Group LLC” was first published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/11/dte-energy-company-dte-shares-sold-by-patton-albertson-miller-group-llc.html.

DTE has been the topic of a number of research analyst reports. Barclays PLC reaffirmed an “overweight” rating and issued a $115.00 target price (up previously from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. BidaskClub lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $117.00 target price (up previously from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $108.00.

In other news, SVP Bruce D. Peterson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $110.08, for a total value of $550,400.00. Following the transaction, the senior vice president now owns 29,156 shares of the company’s stock, valued at $3,209,492.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerardo Norcia sold 4,838 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total value of $535,711.74. Following the completion of the transaction, the chief operating officer now directly owns 115,930 shares in the company, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. Insiders sold 32,263 shares of company stock worth $3,489,815 in the last ninety days. 0.53% of the stock is owned by company insiders.

About DTE Energy

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE).

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

Receive News & Ratings for DTE Energy Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy Company and related companies with MarketBeat.com's FREE daily email newsletter.