Spire Wealth Management lessened its stake in DTE Energy (NYSE:DTE – Free Report) by 74.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 485 shares of the utilities provider’s stock after selling 1,438 shares during the period. Spire Wealth Management’s holdings in DTE Energy were worth $53,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of DTE Energy during the first quarter worth approximately $26,000. U.S. Capital Wealth Advisors LLC acquired a new stake in DTE Energy during the 4th quarter valued at $29,000. BerganKDV Wealth Management LLC lifted its stake in DTE Energy by 462.0% during the first quarter. BerganKDV Wealth Management LLC now owns 281 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. OLD Second National Bank of Aurora bought a new position in DTE Energy in the fourth quarter worth about $35,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in DTE Energy during the 1st quarter valued at approximately $37,000. 74.33% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, SVP Joann Chavez sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $113.53, for a total value of $283,825.00. Following the sale, the senior vice president now directly owns 12,107 shares in the company, valued at $1,374,507.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Joann Chavez sold 2,500 shares of DTE Energy stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $113.53, for a total transaction of $283,825.00. Following the sale, the senior vice president now directly owns 12,107 shares in the company, valued at approximately $1,374,507.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa A. Muschong sold 700 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $110.41, for a total transaction of $77,287.00. Following the sale, the vice president now directly owns 5,455 shares in the company, valued at approximately $602,286.55. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on DTE
DTE Energy Stock Performance
NYSE DTE opened at $104.46 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.63 and a debt-to-equity ratio of 1.77. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.83 and a beta of 0.59. The company has a 50 day moving average of $110.40 and a 200-day moving average of $87.14. DTE Energy has a 1-year low of $100.64 and a 1-year high of $136.63.
DTE Energy (NYSE:DTE – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. DTE Energy had a return on equity of 10.44% and a net margin of 8.02%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the firm earned $0.88 EPS. On average, equities analysts forecast that DTE Energy will post 6.18 earnings per share for the current fiscal year.
DTE Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be given a $0.952 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.65%. DTE Energy’s payout ratio is 59.25%.
DTE Energy Profile
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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