Forvis Mazars Wealth Advisors LLC Reduces Holdings in DTE Energy Company $DTE

Forvis Mazars Wealth Advisors LLC decreased its holdings in DTE Energy Company (NYSE:DTE) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,662 shares of the utilities provider’s stock after selling 388 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in DTE Energy were worth $2,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in DTE Energy by 0.5% during the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock valued at $253,979,000 after purchasing an additional 9,664 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in DTE Energy by 65.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,612,925 shares of the utilities provider’s stock valued at $223,019,000 after purchasing an additional 637,378 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in DTE Energy by 57.4% during the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in DTE Energy by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock valued at $181,978,000 after purchasing an additional 9,443 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in DTE Energy by 1.2% during the first quarter. Royal Bank of Canada now owns 1,173,220 shares of the utilities provider’s stock valued at $162,221,000 after purchasing an additional 13,884 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In related news, VP Lisa A. Muschong sold 1,600 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

DTE has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of DTE Energy from $140.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Wall Street Zen raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of DTE Energy in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Barclays boosted their target price on shares of DTE Energy from $138.00 to $148.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.08.

DTE Energy Price Performance

DTE stock opened at $141.99 on Monday. DTE Energy Company has a one year low of $115.59 and a one year high of $143.79. The company’s fifty day moving average price is $138.55 and its 200-day moving average price is $136.00. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The company has a market capitalization of $29.48 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.04 and a beta of 0.42.

DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities analysts anticipate that DTE Energy Company will post 7.18 EPS for the current fiscal year.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.