300 Shares in DTE Energy (NYSE:DTE) Purchased by Denali Advisors LLC

Denali Advisors LLC bought a new position in shares of DTE Energy (NYSE:DTE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 300 shares of the utilities provider’s stock, valued at approximately $34,000.

A number of other hedge funds have also recently bought and sold shares of DTE. MV Capital Management Inc. increased 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 purchasing an additional 143 shares in the last quarter. Rise Advisors LLC increased its stake in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in DTE Energy in the 4th quarter worth about $53,000. Principal Securities Inc. purchased a new position in DTE Energy in the 4th quarter worth about $54,000. Finally, Quarry LP purchased a new position in DTE Energy in the 4th quarter worth about $63,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Down 0.1 %

Shares of DTE Energy stock traded down $0.16 during trading on Wednesday, hitting $109.24. 350,280 shares of the stock traded hands, compared to its average volume of 1,106,095. The stock has a market cap of $22.61 billion, a P/E ratio of 17.88, a PEG ratio of 2.02 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. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. The company has a fifty day moving average price of $112.92 and a two-hundred day moving average price of $109.89.

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

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given 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 yield of 3.73%. DTE Energy’s payout ratio is currently 66.78%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Scotiabank dropped their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. 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. Finally, Morgan Stanley lowered their target price on DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, DTE Energy currently has a consensus rating of “Hold” and an average target price of $115.67.

Insiders Place Their Bets

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 41,921 shares of the company’s stock, valued at $4,862,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was 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 directly owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares of the company’s stock, valued at $4,862,836. The disclosure for this sale can be found here. Insiders sold 14,698 shares of company stock valued at $1,702,444 over the last 90 days. 0.28% of the stock is currently owned by company insiders.

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.