DTE Energy (NYSE:DTE) Shares Sold by Cadence Bank

Cadence Bank lowered its stake in shares of DTE Energy (NYSE:DTE) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,070 shares of the utilities provider’s stock after selling 691 shares during the quarter. Cadence Bank’s holdings in DTE Energy were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. ESL Trust Services LLC purchased a new stake in DTE Energy during the 1st quarter worth about $27,000. MV Capital Management Inc. grew its stake 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 worth $31,000 after purchasing an additional 143 shares in the last quarter. Rise Advisors LLC increased its holdings in shares of DTE Energy by 89.6% in the 1st 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. Denali Advisors LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other DTE Energy 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 transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s 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 sale, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,698 shares of company stock valued at $1,702,444. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on DTE shares. BMO Capital Markets lifted their price target on shares of DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a research note on Monday, July 15th. Barclays lifted their target price 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 decreased their target price on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Scotiabank reduced 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, Wells Fargo & Company raised their price objective on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $118.40.

DTE Energy Price Performance

Shares of DTE remained flat at $118.19 during mid-day trading on Friday. 1,667,423 shares of the company traded hands, compared to its average volume of 1,102,629. DTE Energy has a twelve month low of $90.14 and a twelve month high of $120.54. The business has a fifty day moving average of $113.02 and a 200-day moving average of $110.29. The company has a market cap of $24.46 billion, a PE ratio of 19.24, a PEG ratio of 2.15 and a beta of 0.66. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the firm earned $0.99 earnings per share. On average, sell-side analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

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