Fifth Third Bancorp boosted its position in shares of DTE Energy (NYSE:DTE – Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,926 shares of the utilities provider’s stock after buying an additional 254 shares during the quarter. Fifth Third Bancorp’s holdings in DTE Energy were worth $868,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC acquired a new position in DTE Energy during the 4th quarter worth $29,000. OLD Second National Bank of Aurora acquired a new position in DTE Energy during the 4th quarter worth $35,000. Carmichael Hill & Associates Inc. acquired a new position in DTE Energy during the 1st quarter worth $37,000. Godsey & Gibb Inc. acquired a new position in DTE Energy during the 4th quarter worth $47,000. Finally, Focused Wealth Management Inc lifted its holdings in DTE Energy by 7,516.7% during the 1st quarter. Focused Wealth Management Inc now owns 457 shares of the utilities provider’s stock worth $50,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.
Analyst Upgrades and Downgrades
DTE has been the topic of several research reports. Mizuho reduced their price objective on DTE Energy from $120.00 to $119.00 in a report on Thursday, June 29th. Morgan Stanley increased their price target on DTE Energy from $120.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Guggenheim cut their price target on DTE Energy from $127.00 to $120.00 in a research note on Friday, July 7th. StockNews.com assumed coverage on DTE Energy in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets cut their price target on DTE Energy from $127.00 to $121.00 in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.13.
DTE Energy Price Performance
DTE Energy (NYSE:DTE – Get Free Report) last released its earnings results on Thursday, April 27th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.05). The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $4.79 billion. DTE Energy had a return on equity of 10.59% and a net margin of 6.15%. During the same quarter last year, the company posted $2.31 EPS. On average, research analysts expect that DTE Energy will post 6.2 EPS for the current year.
DTE Energy Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.952 per share. This represents a $3.81 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is presently 67.43%.
Insiders Place Their Bets
In other DTE Energy news, SVP Joann Chavez sold 4,000 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $113.09, for a total transaction of $452,360.00. Following the completion of the transaction, the senior vice president now owns 14,607 shares in the company, valued at approximately $1,651,905.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other DTE Energy news, SVP Joann Chavez sold 4,000 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $113.09, for a total transaction of $452,360.00. Following the completion of the transaction, the senior vice president now owns 14,607 shares in the company, valued at approximately $1,651,905.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lisa A. Muschong sold 700 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $110.41, for a total value of $77,287.00. Following the transaction, the vice president now owns 5,455 shares of the company’s stock, valued at approximately $602,286.55. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
DTE Energy Company 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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