IFP Advisors Inc Reduces Position in DTE Energy (NYSE:DTE)

IFP Advisors Inc lessened its holdings in shares of DTE Energy (NYSE:DTE) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,431 shares of the utilities provider’s stock after selling 237 shares during the period. IFP Advisors Inc’s holdings in DTE Energy were worth $160,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. grew its stake in shares of DTE Energy by 16.0% in the 2nd quarter. Bessemer Group Inc. now owns 631 shares of the utilities provider’s stock valued at $81,000 after buying an additional 87 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of DTE Energy by 3.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,889 shares of the utilities provider’s stock valued at $375,000 after buying an additional 90 shares during the period. Quadrant Capital Group LLC grew its stake in shares of DTE Energy by 9.7% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,052 shares of the utilities provider’s stock valued at $136,000 after buying an additional 93 shares during the period. Selective Wealth Management Inc. grew its stake in shares of DTE Energy by 57.1% in the 2nd quarter. Selective Wealth Management Inc. now owns 275 shares of the utilities provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of DTE Energy by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 8,456 shares of the utilities provider’s stock valued at $1,096,000 after buying an additional 102 shares during the period. 69.43% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on DTE shares. Morgan Stanley dropped their price target on shares of DTE Energy from $123.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday. Mizuho dropped their price target on shares of DTE Energy from $126.00 to $124.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and set a $128.00 price objective on the stock. in a report on Wednesday, September 1st. They noted that the move was a valuation call. Finally, Evercore ISI upgraded shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 price objective on the stock in a report on Friday, September 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $128.70.

Shares of DTE stock opened at $112.18 on Thursday. The firm’s 50 day moving average price is $113.55 and its 200-day moving average price is $121.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.75 and a current ratio of 1.02. DTE Energy has a one year low of $96.40 and a one year high of $122.14. The firm has a market cap of $21.73 billion, a P/E ratio of 24.82, a P/E/G ratio of 3.16 and a beta of 0.65.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, October 26th. The utilities provider reported $1.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.83 by ($0.11). The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.35 billion. DTE Energy had a return on equity of 12.12% and a net margin of 6.25%. During the same quarter last year, the company earned $2.61 earnings per share. As a group, research analysts predict that DTE Energy will post 5.87 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 15th. Shareholders of record on Monday, December 20th will be issued a dividend of $0.885 per share. The ex-dividend date is Friday, December 17th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.54 dividend on an annualized basis and a yield of 3.16%. DTE Energy’s dividend payout ratio is 73.01%.

About DTE Energy

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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

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