Denali Advisors LLC Acquires New Position in DTE Energy (NYSE:DTE)

Denali Advisors LLC acquired a new stake in shares of DTE Energy (NYSE:DTE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 300 shares of the utilities provider’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds also recently bought and sold shares of DTE. MV Capital Management Inc. increased its position in shares of DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares during the last quarter. Rise Advisors LLC grew its position in shares of 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 last quarter. Creekmur Asset Management LLC acquired a new stake in DTE Energy during the 4th quarter worth $53,000. Principal Securities Inc. acquired a new stake in DTE Energy during the 4th quarter worth $54,000. Finally, Quarry LP acquired a new stake in shares of DTE Energy in the 4th quarter worth $63,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,698 shares of company stock worth $1,702,444. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised 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. BMO Capital Markets upped their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. KeyCorp upped their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Scotiabank dropped their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Finally, Morgan Stanley dropped their price objective on DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy has a consensus rating of “Hold” and a consensus price target of $115.67.

DTE Energy Trading Down 0.1 %

Shares of DTE stock traded down $0.16 during mid-day trading on Wednesday, reaching $109.24. The stock had a trading volume of 350,280 shares, compared to its average volume of 1,106,095. The firm has a market capitalization of $22.61 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.02 and a beta of 0.66. 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 has a 52-week low of $90.14 and a 52-week high of $117.44. The stock’s 50-day moving average price is $112.92 and its two-hundred day moving average price is $109.89.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. Equities analysts expect that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

DTE Energy Company 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.