abrdn plc lessened its stake in DTE Energy (NYSE:DTE – Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,555 shares of the utilities provider’s stock after selling 162 shares during the period. abrdn plc’s holdings in DTE Energy were worth $5,209,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in DTE. Vanguard Group Inc. raised its stake in shares of DTE Energy by 6.6% in the first quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after purchasing an additional 1,420,586 shares during the last quarter. State Street Corp boosted its holdings in shares of DTE Energy by 2.6% in the first quarter. State Street Corp now owns 9,707,687 shares of the utilities provider’s stock worth $1,291,854,000 after acquiring an additional 245,923 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DTE Energy by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 3,921,116 shares of the utilities provider’s stock worth $459,998,000 after acquiring an additional 72,931 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of DTE Energy by 9.0% in the fourth quarter. Neuberger Berman Group LLC now owns 2,493,433 shares of the utilities provider’s stock worth $293,120,000 after acquiring an additional 206,658 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of DTE Energy by 224.8% in the fourth quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock worth $279,708,000 after acquiring an additional 1,647,053 shares during the period. Institutional investors own 74.33% of the company’s stock.
Insider Transactions at DTE Energy
In other news, SVP Joann Chavez sold 4,000 shares of the company’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 in the company, valued at approximately $1,651,905.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Lisa A. Muschong sold 700 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $110.41, for a total value of $77,287.00. Following the completion of the transaction, the vice president now owns 5,455 shares of the company’s stock, valued at approximately $602,286.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joann Chavez sold 4,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $113.09, for a total transaction of $452,360.00. Following the transaction, the senior vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $1,651,905.63. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
DTE Energy Price Performance
Shares of DTE opened at $115.12 on Monday. The firm has a market cap of $23.73 billion, a PE ratio of 20.38, a P/E/G ratio of 3.11 and a beta of 0.60. The company has a current ratio of 0.88, a quick ratio of 0.68 and a debt-to-equity ratio of 1.66. The firm has a fifty day simple moving average of $103.58 and a two-hundred day simple moving average of $79.59. DTE Energy has a 1-year low of $100.64 and a 1-year high of $136.77.
DTE Energy (NYSE:DTE – Get Free Report) last posted its quarterly earnings data on Thursday, April 27th. The utilities provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.05). The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $4.79 billion. DTE Energy had a return on equity of 10.59% and a net margin of 6.15%. During the same quarter last year, the company earned $2.31 earnings per share. On average, equities analysts anticipate that DTE Energy will post 6.17 EPS for the current year.
DTE Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a $0.952 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.81 annualized dividend and a dividend yield of 3.31%. DTE Energy’s dividend payout ratio (DPR) is 67.43%.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.
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