Allspring Global Investments Holdings LLC Sells 4,596 Shares of DTE Energy (NYSE:DTE)

Allspring Global Investments Holdings LLC lowered its stake in DTE Energy (NYSE:DTE - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,525 shares of the utilities provider's stock after selling 4,596 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of DTE Energy worth $18,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy in the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC purchased a new stake in shares of DTE Energy in the 3rd quarter worth approximately $35,000. Ashton Thomas Securities LLC bought a new position in DTE Energy in the 3rd quarter valued at approximately $35,000. Versant Capital Management Inc boosted its stake in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in DTE Energy during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

NYSE DTE traded up $0.83 on Wednesday, hitting $130.38. 1,038,180 shares of the company traded hands, compared to its average volume of 1,181,462. The company has a market capitalization of $27.02 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.37 and a beta of 0.68. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The business's 50 day moving average price is $121.73 and its 200-day moving average price is $123.21. DTE Energy has a 52-week low of $103.06 and a 52-week high of $131.66.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Equities analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.34%. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wells Fargo & Company increased their target price on DTE Energy from $133.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. UBS Group upgraded DTE Energy from a "neutral" rating to a "buy" rating and increased their target price for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Guggenheim upgraded DTE Energy from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. StockNews.com downgraded DTE Energy from a "hold" rating to a "sell" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley cut their target price on DTE Energy from $131.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned 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 price target of $135.83.

About DTE Energy

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.