PNC Financial Services Group Inc. lifted its stake in shares of DTE Energy (NYSE:DTE – Free Report) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,084 shares of the utilities provider’s stock after buying an additional 6,797 shares during the period. PNC Financial Services Group Inc.’s holdings in DTE Energy were worth $5,522,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of DTE. MV Capital Management Inc. boosted its position in DTE Energy by 104.4% in 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 during the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of DTE Energy in the third quarter valued at $36,000. Authentikos Wealth Advisory LLC bought a new stake in shares of DTE Energy in the third quarter valued at $43,000. Principal Securities Inc. bought a new stake in shares of DTE Energy in the fourth quarter valued at $54,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of DTE Energy by 533.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 773 shares of the utilities provider’s stock valued at $85,000 after buying an additional 651 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.
DTE Energy Stock Up 0.8 %
Shares of DTE traded up $0.90 on Friday, reaching $112.96. The stock had a trading volume of 661,319 shares, compared to its average volume of 909,415. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.04 and a beta of 0.64. 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 simple moving average of $111.05 and a 200-day simple moving average of $108.52. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44.
DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings data 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 analysts’ expectations of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. Sell-side analysts predict that DTE Energy will post 6.7 EPS for the current year.
DTE Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s dividend payout ratio is currently 66.78%.
Insider Transactions at DTE Energy
In other news, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
Wall Street Analyst Weigh In
DTE has been the topic of several research reports. KeyCorp boosted 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. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Morgan Stanley boosted their target price on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Barclays boosted their target price on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Scotiabank dropped their price objective 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.30.
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.
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