6,740 Shares in DTE Energy (NYSE:DTE) Bought by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in shares of DTE Energy (NYSE:DTE) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,740 shares of the utilities provider’s stock, valued at approximately $756,000.

A number of other hedge funds have also bought and sold shares of DTE. ESL Trust Services LLC bought a new stake in shares of DTE Energy during the 1st quarter worth approximately $27,000. MV Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 143 shares during the period. Rise Advisors LLC grew its holdings in shares of DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the last quarter. Denali Advisors LLC bought a new position in shares of DTE Energy in the first quarter worth about $34,000. Finally, Salomon & Ludwin LLC increased 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 during the period. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 0.1 %

Shares of NYSE DTE traded up $0.09 during trading hours on Monday, hitting $118.28. 28,041 shares of the stock were exchanged, compared to its average volume of 1,095,115. The company has a market cap of $24.48 billion, a PE ratio of 19.34, a PEG ratio of 2.15 and a beta of 0.66. DTE Energy has a 12 month low of $90.14 and a 12 month high of $120.54. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The firm has a fifty day moving average price of $113.05 and a 200-day moving average price of $110.32.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.22. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same period in the previous year, the business earned $0.99 EPS. On average, sell-side analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 3.45%. DTE Energy’s payout ratio is currently 66.78%.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective 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, July 15th. Wells Fargo & Company increased their price objective on DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday. Scotiabank reduced their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. KeyCorp upped their target price on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Barclays raised their price target on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.40.

DTE Energy Company Profile

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.