Reynders McVeigh Capital Management LLC Reduces Stake in DTE Energy (NYSE:DTE)

Reynders McVeigh Capital Management LLC decreased its stake in DTE Energy (NYSE:DTE) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,191 shares of the utilities provider’s stock after selling 350 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in DTE Energy were worth $358,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MV Capital Management Inc. grew its stake in DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 143 shares in the last quarter. Rise Advisors LLC increased its stake 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 buying an additional 129 shares during the period. Denali Advisors LLC bought a new stake in shares of DTE Energy in the first quarter valued at about $34,000. Salomon & Ludwin LLC grew its holdings in DTE Energy by 82.3% during the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 195 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in shares of DTE Energy in the 4th quarter valued at about $53,000. Institutional investors own 76.06% of the company’s stock.

Insider Activity

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the sale, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Lisa A. Muschong sold 1,198 shares of the 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. Insiders have sold 14,698 shares of company stock valued at $1,702,444 in the last ninety days. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DTE shares. BMO Capital Markets lifted their price objective on shares of DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a report on Monday. Barclays boosted their price target on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. 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 research report on Monday, June 24th. Scotiabank decreased their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Finally, KeyCorp lifted their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.78.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $1.47 during mid-day trading on Monday, hitting $113.01. The stock had a trading volume of 421,684 shares, compared to its average volume of 1,102,357. The firm has a market cap of $23.39 billion, a PE ratio of 18.55, a PEG ratio of 2.09 and a beta of 0.66. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The company has a 50 day moving average of $112.79 and a two-hundred day moving average of $109.92. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44.

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

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio 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.