Envestnet Portfolio Solutions Inc. Sells 294 Shares of DTE Energy Company (NYSE:DTE)

Envestnet Portfolio Solutions Inc. reduced its stake in DTE Energy Company (NYSE:DTE) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,559 shares of the utilities provider’s stock after selling 294 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DTE Energy were worth $769,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mattson Financial Services LLC bought a new stake in DTE Energy during the fourth quarter valued at $38,000. Bank of New Hampshire purchased a new position in shares of DTE Energy in the first quarter worth about $55,000. Colonial Trust Co SC increased its holdings in DTE Energy by 1,266.7% during the 4th quarter. Colonial Trust Co SC now owns 656 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 608 shares during the period. Flagship Wealth Advisors LLC purchased a new position in DTE Energy during the 4th quarter valued at about $87,000. Finally, Optiver Holding B.V. increased its holdings in DTE Energy by 82.1% during the 4th quarter. Optiver Holding B.V. now owns 785 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 354 shares during the period. 76.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DTE shares. Morgan Stanley reduced their target price on DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Citigroup reaffirmed a “buy” rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Guggenheim increased their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. Wells Fargo & Company raised their price target on DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets raised their target price on DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average price target of $140.93.

DTE Energy Stock Down 1.7%

DTE stock opened at $130.96 on Thursday. DTE Energy Company has a 12 month low of $108.40 and a 12 month high of $140.39. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.42 and a beta of 0.45. The firm has a 50-day moving average of $135.06 and a two-hundred day moving average of $129.66. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm earned $1.67 EPS. As a group, analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.33%. DTE Energy’s dividend payout ratio is presently 58.92%.

About DTE Energy

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.