International Assets Investment Management LLC Takes Position in DTE Energy (NYSE:DTE)

International Assets Investment Management LLC bought a new position in shares of DTE Energy (NYSE:DTE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 59,917 shares of the utilities provider’s stock, valued at approximately $6,606,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates increased its stake in shares of DTE Energy by 7.7% during the third quarter. Raymond James & Associates now owns 196,617 shares of the utilities provider’s stock worth $19,520,000 after buying an additional 14,040 shares during the period. Forsta AP Fonden grew its position in shares of DTE Energy by 22.9% in the third quarter. Forsta AP Fonden now owns 30,100 shares of the utilities provider’s stock valued at $2,988,000 after purchasing an additional 5,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DTE Energy by 6.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,507 shares of the utilities provider’s stock worth $4,915,000 after purchasing an additional 2,883 shares in the last quarter. Strs Ohio grew its holdings in shares of DTE Energy by 2.2% during the third quarter. Strs Ohio now owns 111,917 shares of the utilities provider’s stock worth $11,111,000 after buying an additional 2,363 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of DTE Energy by 3.4% during the third quarter. IFM Investors Pty Ltd now owns 42,116 shares of the utilities provider’s stock worth $4,181,000 after buying an additional 1,380 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.92, for a total value of $625,482.00. Following the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $743,200.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total transaction of $625,482.00. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $743,200.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joann Chavez sold 6,070 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the sale, the senior vice president now directly owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,095 shares of company stock valued at $2,168,183. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wolfe Research downgraded shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 16th. BMO Capital Markets lifted their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. raised their price objective on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Guggenheim lowered DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective on the stock. in a research report on Monday, January 22nd. Finally, TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $115.50.

DTE Energy Stock Up 0.8 %

Shares of NYSE:DTE opened at $113.34 on Wednesday. The firm has a market cap of $23.45 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.81 and a beta of 0.64. The company has a fifty day simple moving average of $109.74 and a 200 day simple moving average of $106.98. 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 has a 12-month low of $90.14 and a 12-month high of $116.73.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. On average, equities research analysts anticipate that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.60%. DTE Energy’s dividend payout ratio is currently 66.78%.

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.