DTE Energy (NYSE:DTE) Sets New 52-Week High at $118.36

DTE Energy (NYSE:DTE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $118.36 and last traded at $118.27, with a volume of 158649 shares changing hands. The stock had previously closed at $114.70.

Wall Street Analyst Weigh In

DTE has been the subject of a number of research reports. 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. KeyCorp increased their price target on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. BMO Capital Markets increased 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 report on Monday. Barclays raised their target price 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, Morgan Stanley dropped their target price on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has an average rating of “Hold” and an average target price of $116.78.

DTE Energy Stock Performance

The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The company’s 50 day moving average is $112.89 and its 200-day moving average is $110.07. The company has a market capitalization of $24.02 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. Equities analysts anticipate 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. Shareholders of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.51%. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the sale, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares of the company’s stock, valued at $4,862,836. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,698 shares of company stock worth $1,702,444. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of DTE Energy

Large investors have recently made changes to their positions in the stock. Raymond James & Associates grew its stake in shares of DTE Energy by 6.5% in the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock worth $23,098,000 after acquiring an additional 12,871 shares during the period. SG Americas Securities LLC boosted its holdings in shares of DTE Energy by 273.2% in the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after buying an additional 35,189 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in shares of DTE Energy in the fourth quarter worth approximately $1,305,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of DTE Energy by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock worth $4,271,000 after buying an additional 7,975 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of DTE Energy by 62.7% in the fourth quarter. Intech Investment Management LLC now owns 26,421 shares of the utilities provider’s stock worth $2,913,000 after buying an additional 10,180 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

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.