DTE Energy (NYSE:DTE) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in shares of DTE Energy (NYSE:DTE) by 64.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,187 shares of the utilities provider’s stock after purchasing an additional 9,890 shares during the quarter. QRG Capital Management Inc.’s holdings in DTE Energy were worth $2,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DTE. Fiduciary Family Office LLC acquired a new position in DTE Energy during the first quarter valued at $255,000. Tectonic Advisors LLC grew its holdings in DTE Energy by 5.5% during the first quarter. Tectonic Advisors LLC now owns 4,601 shares of the utilities provider’s stock worth $516,000 after acquiring an additional 241 shares during the period. Forsta AP Fonden raised its position in DTE Energy by 25.7% during the first quarter. Forsta AP Fonden now owns 47,500 shares of the utilities provider’s stock valued at $5,327,000 after acquiring an additional 9,700 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of DTE Energy in the 1st quarter valued at $550,000. Finally, Hilltop National Bank acquired a new position in shares of DTE Energy in the first quarter worth about $627,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a research note on Monday. KeyCorp upped their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Morgan Stanley decreased their price target on DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Barclays increased their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, Scotiabank decreased their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, DTE Energy currently has an average rating of “Hold” and an average target price of $116.78.

DTE Energy Stock Up 1.4 %

Shares of DTE stock traded up $1.57 during trading hours on Tuesday, reaching $114.70. 1,113,576 shares of the stock were exchanged, compared to its average volume of 1,107,910. The firm has a market capitalization of $23.74 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.09 and a beta of 0.66. The business’s fifty day moving average is $112.80 and its two-hundred day moving average is $109.94. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54.

DTE Energy (NYSE:DTE) last issued its earnings results 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). The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. As a group, research analysts expect that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, September 16th. DTE Energy’s payout ratio is currently 66.78%.

Insider Transactions at DTE Energy

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,698 shares of company stock worth $1,702,444. Insiders own 0.61% 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 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.