Mercer Global Advisors Inc. ADV Has $3.66 Million Holdings in DTE Energy (NYSE:DTE)

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV reduced its position in DTE Energy (NYSE:DTE – Get Rating) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,154 shares of the utilities provider’s stock after selling 3,540 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in DTE Energy were worth $3,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. U.S. Capital Wealth Advisors LLC acquired a new position in DTE Energy during the 4th quarter valued at about $29,000. CI Investments Inc. grew its holdings in DTE Energy by 966.7% during the third quarter. CI Investments Inc. now owns 256 shares of the utilities provider’s stock worth $29,000 after buying an additional 232 shares in the last quarter. Godsey & Gibb Inc. purchased a new stake in DTE Energy in the 4th quarter valued at $47,000. General Partner Inc. purchased a new stake in DTE Energy in the 4th quarter valued at $57,000. Finally, Mach 1 Financial Group LLC bought a new position in DTE Energy during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 74.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DTE. Morgan Stanley upped their target price on shares of DTE Energy from $120.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. BMO Capital Markets upped their price objective on shares of DTE Energy from $123.00 to $124.00 and gave the stock a “market perform” rating in a research report on Monday, April 10th. StockNews.com assumed coverage on DTE Energy in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Guggenheim decreased their target price on DTE Energy from $131.00 to $127.00 in a research report on Monday, April 24th. Finally, Wells Fargo & Company dropped their target price on shares of DTE Energy from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.67.

DTE Energy Price Performance

Shares of NYSE DTE opened at $113.45 on Monday. DTE Energy has a twelve month low of $100.64 and a twelve month high of $136.77. The company has a quick ratio of 0.68, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $23.38 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.06 and a beta of 0.59. The stock’s 50-day simple moving average is $110.52 and its two-hundred day simple moving average is $113.35.

DTE Energy (NYSE:DTE – Get Rating) last announced its earnings results on Thursday, April 27th. The utilities provider reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.05). DTE Energy had a net margin of 6.15% and a return on equity of 10.59%. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same period in the prior year, the business earned $2.31 earnings per share. As a group, equities analysts anticipate that DTE Energy will post 6.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, June 19th will be paid a $0.9525 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.36%. DTE Energy’s dividend payout ratio (DPR) is 67.43%.

Insider Activity

In other news, SVP Joann Chavez sold 4,000 shares of DTE Energy stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $113.09, for a total value of $452,360.00. Following the transaction, the senior vice president now owns 14,607 shares in the company, valued at $1,651,905.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

DTE Energy Company Profile

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DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.