Pacer Advisors Inc. Reduces Stock Position in DTE Energy Company $DTE

Pacer Advisors Inc. cut its holdings in DTE Energy Company (NYSE:DTE) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,895 shares of the utilities provider’s stock after selling 5,668 shares during the quarter. Pacer Advisors Inc.’s holdings in DTE Energy were worth $2,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Millennium Management LLC raised its position in DTE Energy by 227.4% during the 4th quarter. Millennium Management LLC now owns 2,729,226 shares of the utilities provider’s stock valued at $352,016,000 after purchasing an additional 1,895,631 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of DTE Energy in the 4th quarter worth approximately $139,423,000. Cohen & Steers Inc. bought a new stake in shares of DTE Energy in the 4th quarter worth approximately $125,604,000. Vanguard Group Inc. increased its stake in shares of DTE Energy by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 26,305,533 shares of the utilities provider’s stock valued at $3,392,888,000 after buying an additional 766,499 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of DTE Energy by 176.5% during the second quarter. Raymond James Financial Inc. now owns 1,015,208 shares of the utilities provider’s stock valued at $134,474,000 after buying an additional 648,007 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Trading Up 0.0%

Shares of NYSE DTE opened at $140.00 on Friday. DTE Energy Company has a 1 year low of $126.23 and a 1 year high of $155.74. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.80 and a quick ratio of 0.53. The firm has a 50-day moving average of $147.23 and a 200 day moving average of $145.03. The stock has a market cap of $29.13 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 3.06 and a beta of 0.38.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share 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 analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, sell-side analysts expect that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid a $1.165 dividend. The ex-dividend date is Monday, September 21st. This represents a $4.66 annualized dividend and a dividend yield of 3.3%. DTE Energy’s dividend payout ratio is presently 73.73%.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $143.72, for a total value of $143,720.00. Following the sale, the vice president owned 6,233 shares in the company, valued at $895,806.76. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DTE. Morgan Stanley reaffirmed an “overweight” rating on shares of DTE Energy in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research report on Thursday, July 9th. BMO Capital Markets raised their target price on shares of DTE Energy from $148.00 to $150.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $155.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Bank of America reissued a “buy” rating on shares of DTE Energy in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.62.

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.