Chevy Chase Trust Holdings LLC Trims Stock Position in DTE Energy (NYSE:DTE)

Chevy Chase Trust Holdings LLC lowered its position in shares of DTE Energy (NYSE:DTEFree Report) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,540 shares of the utilities provider’s stock after selling 633 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of DTE Energy worth $12,845,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DTE. MV Capital Management Inc. grew its stake in DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. Rise Advisors LLC grew its stake in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares in the last quarter. Denali Advisors LLC purchased a new position in DTE Energy in the 1st quarter worth approximately $34,000. Salomon & Ludwin LLC grew its stake in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in DTE Energy in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,698 shares of company stock valued at $1,702,444. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DTE shares. Barclays upped their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Scotiabank cut their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Morgan Stanley lowered their price target on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, BMO Capital Markets upped their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy currently has an average rating of “Hold” and a consensus price target of $115.67.

Read Our Latest Research Report on DTE

DTE Energy Stock Up 0.2 %

Shares of NYSE:DTE traded up $0.23 during midday trading on Wednesday, reaching $108.90. The company’s stock had a trading volume of 318,441 shares, compared to its average volume of 1,096,722. The firm has a 50 day moving average of $112.77 and a 200-day moving average of $109.87. The firm has a market capitalization of $22.54 billion, a P/E ratio of 17.78, a PEG ratio of 1.99 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.75 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 $117.44.

DTE Energy (NYSE:DTEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS 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 for the quarter, compared to analysts’ expectations of $3.81 billion. On average, research analysts anticipate that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

About DTE Energy

(Free Report)

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.

Further Reading

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

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