BlackRock Inc. lifted its position in DTE Energy (NYSE:DTE) by 4.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,776,320 shares of the utilities provider’s stock after purchasing an additional 740,198 shares during the period. BlackRock Inc. owned about 8.69% of DTE Energy worth $1,647,046,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in shares of DTE Energy in the fourth quarter worth approximately $138,000. Focused Wealth Management Inc bought a new position in shares of DTE Energy in the fourth quarter worth approximately $164,000. Lenox Wealth Advisors Inc. bought a new position in shares of DTE Energy in the fourth quarter worth approximately $190,000. Capital One National Association bought a new position in shares of DTE Energy in the fourth quarter worth approximately $201,000. Finally, BB&T Securities LLC bought a new position in shares of DTE Energy in the fourth quarter worth approximately $202,000. Hedge funds and other institutional investors own 70.40% of the company’s stock.
In other news, VP Lisa A. Muschong sold 1,341 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $100.97, for a total transaction of $135,400.77. Following the sale, the vice president now owns 2,676 shares in the company, valued at approximately $270,195.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Gerard M. Anderson sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $102.18, for a total transaction of $1,532,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,021 shares of company stock worth $2,440,248. 0.59% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Monday. KeyCorp restated a “buy” rating and issued a $107.00 target price on shares of DTE Energy in a report on Thursday, March 15th. Citigroup initiated coverage on shares of DTE Energy in a report on Friday, April 13th. They issued a “neutral” rating and a $103.00 target price on the stock. Bank of America lifted their price target on shares of DTE Energy from $101.00 to $104.00 and gave the company an “underperform” rating in a report on Tuesday, February 20th. Finally, UBS initiated coverage on shares of DTE Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $110.00.
NYSE:DTE opened at $102.13 on Friday. The firm has a market capitalization of $18.17 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.88 and a beta of 0.14. DTE Energy has a twelve month low of $97.66 and a twelve month high of $116.74. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 1.18.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, April 25th. The utilities provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.26 billion. DTE Energy had a net margin of 8.34% and a return on equity of 10.27%. During the same quarter in the previous year, the business posted $1.79 earnings per share. analysts predict that DTE Energy will post 5.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Investors of record on Monday, June 18th will be issued a $0.8825 dividend. This represents a $3.53 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, June 15th. DTE Energy’s dividend payout ratio (DPR) is currently 63.15%.
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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