Truist Financial Corp decreased its stake in shares of DTE Energy (NYSE:DTE – Free Report) by 39.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 11,402 shares of the utilities provider’s stock after selling 7,540 shares during the quarter. Truist Financial Corp’s holdings in DTE Energy were worth $1,257,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. MV Capital Management Inc. grew its position in 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 buying an additional 143 shares in the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of DTE Energy in the 3rd quarter worth approximately $36,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth approximately $43,000. Cullen Frost Bankers Inc. increased its position in shares of DTE Energy by 17.0% during the third quarter. Cullen Frost Bankers Inc. now owns 702 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 102 shares during the period. Finally, Private Trust Co. NA raised its stake in shares of DTE Energy by 28.6% in the fourth quarter. Private Trust Co. NA now owns 957 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.
DTE Energy Stock Down 0.7 %
Shares of NYSE DTE opened at $115.49 on Monday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.86. The firm’s 50-day simple moving average is $110.18 and its 200 day simple moving average is $107.30. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64.
DTE Energy (NYSE:DTE – Get Free Report) 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 analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. On average, research analysts expect that DTE Energy will post 6.69 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The company also recently announced 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. The ex-dividend date is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.53%. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Wolfe Research downgraded shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. increased their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Guggenheim downgraded DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price for the company. in a research report on Monday, January 22nd. Finally, Morgan Stanley upped their price target on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.
Get Our Latest Report on DTE Energy
Insider Transactions at DTE Energy
In related news, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the transaction, the chief operating officer now owns 26,118 shares in the company, valued at $2,801,155.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Joann Chavez sold 6,070 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total value of $662,783.30. Following the transaction, the senior vice president now directly owns 16,667 shares in the company, valued at approximately $1,819,869.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert A. Richard sold 4,800 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. Insiders sold a total of 20,095 shares of company stock worth $2,168,183 over the last 90 days. 0.61% of the stock is owned by insiders.
DTE Energy 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.
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Source: defenseworld.net
