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

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV reduced its holdings in shares of DTE Energy (NYSE:DTE – Get Rating) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,154 shares of the utilities provider’s stock after selling 3,540 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in DTE Energy were worth $3,662,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DTE. Vanguard Group Inc. grew its holdings in shares of DTE Energy by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 23,418,393 shares of the utilities provider’s stock valued at $2,694,286,000 after purchasing an additional 677,802 shares during the last quarter. BlackRock Inc. increased its holdings in DTE Energy by 6.5% in the 3rd quarter. BlackRock Inc. now owns 18,213,090 shares of the utilities provider’s stock worth $2,095,415,000 after purchasing an additional 1,111,992 shares in the last quarter. State Street Corp boosted its position in DTE Energy by 3.8% during the 3rd quarter. State Street Corp now owns 10,288,386 shares of the utilities provider’s stock worth $1,192,570,000 after buying an additional 372,903 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in DTE Energy by 15.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,431,298 shares of the utilities provider’s stock valued at $509,910,000 after purchasing an additional 605,522 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in DTE Energy by 33.8% in the third quarter. Neuberger Berman Group LLC now owns 2,286,775 shares of the utilities provider’s stock valued at $263,268,000 after purchasing an additional 577,589 shares during the period. 74.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other DTE Energy news, SVP Joann Chavez sold 4,000 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $113.09, for a total value of $452,360.00. Following the completion of the sale, the senior vice president now directly owns 14,607 shares of the company’s stock, valued at $1,651,905.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

DTE Energy Price Performance

DTE opened at $113.45 on Monday. The firm’s fifty day moving average price is $110.52 and its two-hundred day moving average price is $113.35. The company has a market capitalization of $23.38 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.68. DTE Energy has a 1 year low of $100.64 and a 1 year high of $136.77.

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

DTE Energy Announces Dividend

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

DTE Energy 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.