Advisory Services Network LLC Buys 1,088 Shares of DTE Energy (NYSE:DTE)

Advisory Services Network LLC increased its holdings in shares of DTE Energy (NYSE:DTEGet Rating) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,120 shares of the utilities provider’s stock after acquiring an additional 1,088 shares during the period. Advisory Services Network LLC’s holdings in DTE Energy were worth $1,866,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Fermata Advisors LLC boosted its position in shares of DTE Energy by 4.5% during the 1st quarter. Fermata Advisors LLC now owns 1,842 shares of the utilities provider’s stock valued at $244,000 after acquiring an additional 79 shares in the last quarter. US Bancorp DE boosted its position in shares of DTE Energy by 0.3% during the 1st quarter. US Bancorp DE now owns 28,381 shares of the utilities provider’s stock valued at $3,752,000 after acquiring an additional 86 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of DTE Energy by 9.1% during the 1st quarter. Quadrant Capital Group LLC now owns 1,038 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 87 shares in the last quarter. City Holding Co. boosted its position in shares of DTE Energy by 1.0% during the 1st quarter. City Holding Co. now owns 9,450 shares of the utilities provider’s stock valued at $1,249,000 after acquiring an additional 90 shares in the last quarter. Finally, Leisure Capital Management boosted its position in shares of DTE Energy by 1.1% during the 1st quarter. Leisure Capital Management now owns 8,973 shares of the utilities provider’s stock valued at $1,186,000 after acquiring an additional 97 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Robert A. Richard sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $130.31, for a total transaction of $377,899.00. Following the completion of the sale, the executive vice president now directly owns 18,046 shares of the company’s stock, valued at $2,351,574.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Joi M. Harris sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $130.13, for a total transaction of $234,234.00. Following the completion of the sale, the chief operating officer now directly owns 8,011 shares of the company’s stock, valued at $1,042,471.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert A. Richard sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $130.31, for a total transaction of $377,899.00. Following the sale, the executive vice president now directly owns 18,046 shares of the company’s stock, valued at $2,351,574.26. The disclosure for this sale can be found here. Insiders sold a total of 5,700 shares of company stock valued at $747,753 over the last ninety days. Insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of DTE stock opened at $129.90 on Monday. DTE Energy has a 1 year low of $108.22 and a 1 year high of $140.23. The firm’s 50 day moving average is $130.58 and its 200-day moving average is $129.87. The firm has a market capitalization of $25.17 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 3.59 and a beta of 0.60. The company has a current ratio of 0.59, a quick ratio of 0.47 and a debt-to-equity ratio of 1.82.

DTE Energy (NYSE:DTEGet Rating) last announced its earnings results on Thursday, July 28th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.14). DTE Energy had a return on equity of 13.31% and a net margin of 4.27%. During the same quarter last year, the business earned $1.70 EPS. Sell-side analysts forecast that DTE Energy will post 6.02 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, September 19th will be given a dividend of $0.885 per share. The ex-dividend date of this dividend is Friday, September 16th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 2.73%. DTE Energy’s payout ratio is 90.31%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DTE. Credit Suisse Group lifted their target price on shares of DTE Energy to $140.00 in a research report on Tuesday, August 9th. Barclays reduced their price target on shares of DTE Energy from $141.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Morgan Stanley boosted their price target on shares of DTE Energy from $131.00 to $141.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Finally, Mizuho reduced their price target on shares of DTE Energy from $137.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, July 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.90.

DTE Energy Company Profile

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DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

Further Reading

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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