Procyon Advisors LLC Takes $1.03 Million Position in DTE Energy (NYSE:DTE)

Procyon Advisors LLC bought a new stake in DTE Energy (NYSE:DTE) in the first quarter, Holdings Channel.com reports. The firm bought 9,206 shares of the utilities provider’s stock, valued at approximately $1,032,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTE. MV Capital Management Inc. increased its position in shares of DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 143 shares during the last quarter. Rise Advisors LLC increased its position in shares of DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 129 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of DTE Energy during the fourth quarter valued at about $53,000. Principal Securities Inc. acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $54,000. Finally, Quarry LP acquired a new position in shares of DTE Energy in the fourth quarter valued at approximately $63,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the transaction, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,698 shares of company stock worth $1,702,444. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

NYSE DTE traded up $0.80 during trading hours on Thursday, reaching $111.25. The company’s stock had a trading volume of 669,353 shares, compared to its average volume of 1,113,325. The stock has a market cap of $23.02 billion, a PE ratio of 18.22, a PEG ratio of 2.00 and a beta of 0.67. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $117.44. The company’s 50-day moving average is $112.81 and its two-hundred day moving average is $109.93. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75.

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 analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. Analysts forecast that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.67%. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective 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 lifted their price objective 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. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, BMO Capital Markets boosted their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $115.67.

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.