Lockheed Martin Investment Management Co. Cuts Stock Position in DTE Energy (NYSE:DTE) (2024)

Posted by Charles Blunt on May 29th, 2024

Lockheed Martin Investment Management Co. lessened its holdings in shares of DTE Energy (NYSE:DTE – Free Report) by 10.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,600 shares of the utilities provider’s stock after selling 1,300 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in DTE Energy were worth $1,289,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA grew its holdings in DTE Energy by 0.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock worth $12,815,000 after acquiring an additional 1,106 shares in the last quarter. Raymond James & Associates grew its holdings in DTE Energy by 6.5% during the 4th quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock worth $23,098,000 after acquiring an additional 12,871 shares in the last quarter. SG Americas Securities LLC grew its holdings in DTE Energy by 273.2% during the 4th quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after acquiring an additional 35,189 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in DTE Energy by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock worth $4,271,000 after acquiring an additional 7,975 shares in the last quarter. Finally, Arvest Investments Inc. acquired a new position in DTE Energy during the 4th quarter worth approximately $2,581,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE traded down $1.42 during trading hours on Wednesday, reaching $111.58. The company had a trading volume of 237,796 shares, compared to its average volume of 1,122,672. The firm has a 50 day simple moving average of $111.17 and a 200-day simple moving average of $108.80. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.06 and a beta of 0.64. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44.

DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. Research analysts expect that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a $1.02 dividend. The ex-dividend date is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.66%. DTE Energy’s dividend payout ratio is presently 66.78%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on DTE. KeyCorp upped their target price on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. BMO Capital Markets upped their target price on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Barclays upped their target price on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Scotiabank lowered their target price on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $116.30.

Check Out Our Latest Analysis on DTE

About DTE Energy

(Free Report)

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.