DTE Energy Company $DTE Stock Sold by Lido Advisors LLC

Lido Advisors LLC decreased its holdings in DTE Energy Company (NYSE:DTE) by 56.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,466 shares of the utilities provider’s stock after selling 25,381 shares during the quarter. Lido Advisors LLC’s holdings in DTE Energy were worth $2,371,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DTE. First Bancorp Inc ME bought a new stake in shares of DTE Energy during the second quarter valued at about $29,000. Community Bank N.A. acquired a new stake in DTE Energy in the second quarter worth about $31,000. Elevation Wealth Partners LLC grew its position in DTE Energy by 682.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the utilities provider’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in DTE Energy in the 2nd quarter valued at about $35,000. Finally, Provenance Wealth Advisors LLC grew its position in DTE Energy by 1,681.2% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 285 shares of the utilities provider’s stock valued at $35,000 after buying an additional 269 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DTE Energy

In other DTE Energy news, Vice Chairman Trevor Lauer sold 5,000 shares of DTE Energy stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total value of $678,550.00. Following the transaction, the insider owned 73,122 shares in the company, valued at approximately $9,923,386.62. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of DTE Energy from $134.00 to $139.00 and gave the stock a “market perform” rating in a research report on Friday, October 16th. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Monday, October 19th. Jefferies Financial Group set a $152.00 price objective on shares of DTE Energy in a report on Friday, October 23rd. Barclays decreased their price objective on shares of DTE Energy from $154.00 to $135.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Finally, Morgan Stanley lowered their price objective on shares of DTE Energy from $141.00 to $139.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.58.

DTE Energy Price Performance

Shares of DTE Energy stock traded up $0.49 during trading on Friday, hitting $139.69. The stock had a trading volume of 1,064,745 shares, compared to its average volume of 1,450,221. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.62 and a quick ratio of 0.40. The firm has a market cap of $29.08 billion, a P/E ratio of 21.29, a PEG ratio of 2.86 and a beta of 0.35. The business has a fifty day moving average of $130.47 and a two-hundred day moving average of $140.93. DTE Energy Company has a fifty-two week low of $119.68 and a fifty-two week high of $155.74.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, November 5th. The utilities provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.17. DTE Energy had a return on equity of 12.17% and a net margin of 8.21%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the company earned $2.01 earnings per share. On average, sell-side analysts expect that DTE Energy Company will post 7.70 earnings per share for the current fiscal year.

DTE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, December 21st will be paid a $1.2450 dividend. The ex-dividend date of this dividend is Monday, December 21st. This represents a $4.98 annualized dividend and a dividend yield of 3.6%. This is an increase from DTE Energy’s previous quarterly dividend of $1.1650. DTE Energy’s dividend payout ratio is presently 71.04%.

About DTE Energy

DTE Energy is a Detroit-based energy company whose core businesses are regulated electric and natural gas utilities in Michigan. Through DTE Electric, it generates, transmits and distributes electricity, while DTE Gas provides natural gas service to customers across the state. The company also operates non-utility businesses, including energy marketing and trading and industrial energy services. These businesses develop energy solutions such as recovering energy from industrial processes and waste, alongside the company’s investments in renewable energy generation.