Several other research analysts have also issued reports on DTE. Barclays assumed coverage on DTE Energy in a research report on Wednesday, August 23rd. They issued an overweight rating and a $117.00 price target on the stock. 888 reaffirmed a maintains rating on shares of DTE Energy in a research note on Thursday, June 29th. Guggenheim dropped their price objective on DTE Energy from $127.00 to $120.00 in a research note on Friday, July 7th. Morgan Stanley dropped their price objective on DTE Energy from $122.00 to $115.00 and set an overweight rating on the stock in a research note on Wednesday, August 23rd. Finally, 58.com reaffirmed a maintains rating on shares of DTE Energy in a research note on Thursday, June 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $87.07.
DTE Energy Stock Up 0.9 %
DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $4.04 billion. DTE Energy had a return on equity of 10.44% and a net margin of 8.02%. During the same period last year, the company earned $0.88 EPS. On average, analysts predict that DTE Energy will post 6.18 earnings per share for the current year.
DTE Energy Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.952 per share. The ex-dividend date is Friday, September 15th. This represents a $3.81 annualized dividend and a dividend yield of 3.57%. DTE Energy’s dividend payout ratio (DPR) is presently 59.25%.
Insider Transactions at DTE Energy
In other news, SVP Joann Chavez sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $113.53, for a total transaction of $283,825.00. Following the completion of the transaction, the senior vice president now directly owns 12,107 shares in the company, valued at $1,374,507.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.
Institutional Trading of DTE Energy
Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of DTE Energy by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,079,409 shares of the utilities provider’s stock worth $118,238,000 after purchasing an additional 9,982 shares during the last quarter. Credit Suisse AG boosted its position in DTE Energy by 10.4% during the first quarter. Credit Suisse AG now owns 140,672 shares of the utilities provider’s stock valued at $15,409,000 after acquiring an additional 13,309 shares during the last quarter. Glenview Trust co boosted its position in DTE Energy by 3.9% during the first quarter. Glenview Trust co now owns 5,645 shares of the utilities provider’s stock valued at $618,000 after acquiring an additional 210 shares during the last quarter. Quadrant Capital Group LLC boosted its position in DTE Energy by 73.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,369 shares of the utilities provider’s stock valued at $278,000 after acquiring an additional 1,006 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in DTE Energy by 2.7% during the first quarter. Arizona State Retirement System now owns 56,326 shares of the utilities provider’s stock valued at $6,170,000 after acquiring an additional 1,488 shares during the last quarter. Institutional investors own 74.72% of the company’s stock.
About DTE Energy
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 solar assets.
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