Gradient Investments LLC Raises Stake in DTE Energy (NYSE:DTE)

Gradient Investments LLC increased its stake in DTE Energy (NYSE:DTE) by 91.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,333 shares of the utilities provider’s stock after buying an additional 635 shares during the period. Gradient Investments LLC’s holdings in DTE Energy were worth $148,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. Janus Henderson Group PLC raised its stake in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after acquiring an additional 2,060,762 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after buying an additional 1,756,459 shares during the period. Boston Partners grew its position in shares of DTE Energy by 66.8% during the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after buying an additional 1,018,212 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of DTE Energy during the fourth quarter valued at $74,478,000. Finally, Capital Research Global Investors increased its stake in shares of DTE Energy by 1.9% during the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after buying an additional 399,646 shares during the period. Institutional investors own 76.06% of the company’s stock.

Wall Street Analysts Forecast Growth

DTE has been the topic of several recent research reports. Morgan Stanley dropped their target price on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 11th. Scotiabank cut their price target 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. BMO Capital Markets upped their price objective on DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a research note on Monday, July 15th. Finally, KeyCorp lifted their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.36.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $0.09 during mid-day trading on Friday, hitting $121.89. The stock had a trading volume of 2,423,752 shares, compared to its average volume of 1,096,922. The firm has a market cap of $25.22 billion, a PE ratio of 19.95, a PEG ratio of 2.27 and a beta of 0.66. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The company has a 50 day moving average of $115.04 and a two-hundred day moving average of $111.86. DTE Energy has a twelve month low of $90.14 and a twelve month high of $126.76.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Research analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

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 paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.35%. DTE Energy’s payout ratio is currently 66.78%.

Insider Activity

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 directly owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the vice president now directly 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 is available at this hyperlink. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

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.