1832 Asset Management L.P. Sells 442 Shares of DTE Energy (NYSE:DTE)

1832 Asset Management L.P. lowered its stake in DTE Energy (NYSE:DTE) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,359 shares of the utilities provider’s stock after selling 442 shares during the quarter. 1832 Asset Management L.P.’s holdings in DTE Energy were worth $2,059,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DTE. Raymond James & Associates boosted its holdings in DTE Energy by 6.5% in the fourth 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. Raymond James Financial Services Advisors Inc. lifted its position in DTE Energy by 4.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 47,798 shares of the utilities provider’s stock valued at $5,270,000 after acquiring an additional 1,891 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of DTE Energy by 18.2% in the fourth quarter. Blue Trust Inc. now owns 1,872 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 288 shares in the last quarter. Caprock Group LLC purchased a new position in DTE Energy during the 4th quarter worth $256,000. Finally, Pinnacle Associates Ltd. lifted its position in shares of DTE Energy by 4.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,573 shares of the utilities provider’s stock worth $615,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

Shares of NYSE DTE remained flat at $118.19 during trading on Friday. The stock had a trading volume of 1,712,734 shares, compared to its average volume of 951,260. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The stock has a market cap of $24.46 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.15 and a beta of 0.66. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $120.54. The company’s 50-day moving average is $113.05 and its two-hundred day moving average is $110.33.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.20%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Research analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DTE. Barclays upped their price target on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Scotiabank dropped their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company upped their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Finally, BMO Capital Markets raised their price target on shares of DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, July 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $118.40.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the firm’s 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 owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction 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 directly owns 4,271 shares in the company, valued at approximately $498,041.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the sale, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock worth $1,702,444 over the last quarter. 0.61% of the stock is owned by corporate insiders.

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.