Redwood Wealth Management Group LLC Sells 1,250 Shares of DTE Energy (NYSE:DTE)

Redwood Wealth Management Group LLC lessened its holdings in DTE Energy (NYSE:DTE) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,347 shares of the utilities provider’s stock after selling 1,250 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in DTE Energy were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. ESL Trust Services LLC bought a new stake in shares of DTE Energy during the first quarter worth $27,000. Rise Advisors LLC boosted its position in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after buying an additional 129 shares during the period. Ridgewood Investments LLC purchased a new stake in DTE Energy in the 2nd quarter valued at about $31,000. Denali Advisors LLC purchased a new position in shares of DTE Energy during the first quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC raised its stake in shares of DTE Energy by 82.3% during the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 195 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the topic of several research analyst reports. Wells Fargo & Company increased their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets raised their price target on DTE Energy from $126.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Scotiabank raised their target price on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.17.

DTE Energy Stock Up 1.2 %

DTE stock opened at $125.95 on Monday. The stock has a market capitalization of $26.06 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.67. DTE Energy has a 52 week low of $90.14 and a 52 week high of $127.59. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average of $120.40 and a 200 day moving average of $114.49.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter last year, the company posted $0.99 earnings per share. Sell-side analysts forecast that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.24%. DTE Energy’s payout ratio is presently 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.