Proficio Capital Partners LLC acquired a new position in shares of DTE Energy (NYSE:DTE – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,701 shares of the utilities provider’s stock, valued at approximately $46,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTE. U.S. Capital Wealth Advisors LLC purchased a new stake in DTE Energy in the fourth quarter valued at $29,000. OLD Second National Bank of Aurora purchased a new stake in DTE Energy in the fourth quarter valued at $35,000. Carmichael Hill & Associates Inc. purchased a new stake in DTE Energy in the first quarter valued at $37,000. Godsey & Gibb Inc. purchased a new stake in DTE Energy in the fourth quarter valued at $47,000. Finally, Focused Wealth Management Inc raised its position in DTE Energy by 7,516.7% in the first quarter. Focused Wealth Management Inc now owns 457 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 451 shares during the period. Institutional investors and hedge funds own 74.33% of the company’s stock.
Insider Buying and Selling
In related news, VP Lisa A. Muschong sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $110.41, for a total transaction of $77,287.00. Following the transaction, the vice president now owns 5,455 shares in the company, valued at approximately $602,286.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Lisa A. Muschong sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $110.41, for a total transaction of $77,287.00. Following the transaction, the vice president now owns 5,455 shares in the company, valued at approximately $602,286.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joann Chavez sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $113.09, for a total value of $452,360.00. Following the transaction, the senior vice president now owns 14,607 shares in the company, valued at approximately $1,651,905.63. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
DTE Energy Trading Up 1.2 %
DTE opened at $112.58 on Thursday. DTE Energy has a one year low of $100.64 and a one year high of $136.77. The company has a market cap of $23.20 billion, a P/E ratio of 19.93, a PEG ratio of 2.99 and a beta of 0.60. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.68 and a current ratio of 0.88. The business’s 50-day simple moving average is $92.73 and its 200-day simple moving average is $75.42.
DTE Energy (NYSE:DTE – Free Report) last released its quarterly earnings data on Thursday, April 27th. The utilities provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.05). DTE Energy had a net margin of 6.15% and a return on equity of 10.59%. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the company posted $2.31 EPS. As a group, equities research analysts expect that DTE Energy will post 6.2 EPS for the current fiscal year.
DTE Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a $0.952 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.38%. DTE Energy’s payout ratio is currently 67.43%.
DTE Energy Profile
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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