Capital Asset Advisory Services LLC Sells 490 Shares of DTE Energy (NYSE:DTE)

Capital Asset Advisory Services LLC trimmed its holdings in shares of DTE Energy (NYSE:DTE) by 12.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,500 shares of the utilities provider’s stock after selling 490 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in DTE Energy were worth $382,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. purchased a new stake in DTE Energy during the third quarter valued at approximately $283,000. Envestnet Asset Management Inc. grew its stake in DTE Energy by 17.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 72,455 shares of the utilities provider’s stock worth $7,193,000 after buying an additional 10,964 shares during the last quarter. LPL Financial LLC grew its stake in DTE Energy by 17.5% during the 3rd quarter. LPL Financial LLC now owns 129,736 shares of the utilities provider’s stock worth $12,880,000 after buying an additional 19,282 shares during the last quarter. Stifel Financial Corp increased its position in DTE Energy by 0.6% during the 3rd quarter. Stifel Financial Corp now owns 55,567 shares of the utilities provider’s stock valued at $5,517,000 after buying an additional 335 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in DTE Energy by 24.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,438 shares of the utilities provider’s stock valued at $937,000 after buying an additional 1,881 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DTE shares. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Barclays upped their price target on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Scotiabank lowered their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley dropped their price objective on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday. Finally, KeyCorp raised their target price on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, DTE Energy presently has an average rating of “Hold” and a consensus price target of $115.67.

Insider Activity

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the sale, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock worth $1,702,444 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

DTE traded down $0.24 during midday trading on Friday, hitting $111.01. 1,563,729 shares of the company were exchanged, compared to its average volume of 1,116,976. The company’s 50 day simple moving average is $112.96 and its 200 day simple moving average is $109.94. The firm has a market capitalization of $22.97 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.67. DTE Energy has a 1-year low of $90.14 and a 1-year high of $117.44. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. As a group, sell-side analysts predict that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.68%. DTE Energy’s dividend payout ratio is currently 66.78%.

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.