Royal London Asset Management Ltd. Sells 5,758 Shares of DTE Energy Company $DTE

Royal London Asset Management Ltd. trimmed its holdings in DTE Energy Company (NYSE:DTE) by 22.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,951 shares of the utilities provider’s stock after selling 5,758 shares during the period. Royal London Asset Management Ltd.’s holdings in DTE Energy were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of DTE. BlackRock Inc. acquired a new stake in shares of DTE Energy during the second quarter worth about $3,915,284,000. Capital Research Global Investors increased its stake in DTE Energy by 3.1% during the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock worth $1,605,539,000 after purchasing an additional 379,443 shares in the last quarter. State Street Corp increased its stake in DTE Energy by 2.5% during the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock worth $1,441,776,000 after purchasing an additional 272,068 shares in the last quarter. Geode Capital Management LLC raised its holdings in DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after buying an additional 117,322 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in DTE Energy during the 2nd quarter worth approximately $477,264,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Price Performance

Shares of DTE opened at $136.04 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. DTE Energy Company has a twelve month low of $126.23 and a twelve month high of $155.74. The stock has a market capitalization of $28.31 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.95 and a beta of 0.37. The company has a 50 day moving average of $144.49 and a 200-day moving average of $145.33.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, equities research analysts forecast that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. This represents a $4.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s dividend payout ratio is currently 73.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DTE shares. Truist Financial reduced their price target on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Morgan Stanley cut their price objective on shares of DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Wall Street Zen lowered shares of DTE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price on shares of DTE Energy in a report on Monday, June 15th. Finally, Mizuho dropped their price target on DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.