Comerica Bank Sells 2,991 Shares of DTE Energy Company $DTE

Comerica Bank lessened its holdings in DTE Energy Company (NYSE:DTE) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 65,439 shares of the utilities provider’s stock after selling 2,991 shares during the period. Comerica Bank’s holdings in DTE Energy were worth $9,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DTE. Cloud Capital Management LLC bought a new stake in DTE Energy in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy in the 1st quarter valued at $28,000. SouthState Corp bought a new position in DTE Energy during the 1st quarter worth $29,000. Finally, N.E.W. Advisory Services LLC bought a new position in DTE Energy during the 1st quarter worth $31,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DTE. JPMorgan Chase & Co. increased their price objective on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley set a $140.00 price objective on DTE Energy and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Wells Fargo & Company increased their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Citigroup reiterated a “buy” rating and set a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Finally, Barclays increased their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.86.

DTE Energy Stock Performance

DTE opened at $138.48 on Thursday. The firm has a market cap of $28.75 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $142.05. 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 business’s fifty day moving average is $136.21 and its 200-day moving average is $134.59.

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

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy’s dividend payout ratio is 62.73%.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the sale, the vice president directly owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

DTE Energy Profile

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.