DTE Energy Company $DTE Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its position in DTE Energy Company (NYSE:DTE) by 9.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 47,200 shares of the utilities provider’s stock after selling 4,988 shares during the period. Sigma Planning Corp’s holdings in DTE Energy were worth $7,193,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in DTE Energy during the 4th quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new stake in DTE Energy in the fourth quarter valued at approximately $29,000. Key Financial Inc acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $29,000. First Bancorp Inc ME acquired a new stake in shares of DTE Energy in the second quarter valued at approximately $29,000. Finally, SHP Wealth Management purchased a new position in shares of DTE Energy during the fourth quarter worth approximately $35,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE opened at $135.75 on Monday. The stock has a market capitalization of $28.25 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.95 and a beta of 0.38. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company’s fifty day moving average is $144.97 and its two-hundred day moving average is $145.37.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.14 by $0.18. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same quarter last year, the business earned $1.36 EPS. On average, sell-side analysts predict that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DTE shares. Wall Street Zen cut shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 price objective on shares of DTE Energy in a research report on Monday, June 15th. Barclays dropped their price objective on shares of DTE Energy from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Morgan Stanley decreased their target price on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Finally, TD Cowen initiated coverage on DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company 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.