iA Global Asset Management Inc. Makes New $869,000 Investment in DTE Energy (NYSE:DTE)

iA Global Asset Management Inc. bought a new position in shares of DTE Energy (NYSE:DTE) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 7,753 shares of the utilities provider’s stock, valued at approximately $869,000.

Several other hedge funds have also recently bought and sold shares of DTE. ESL Trust Services LLC acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $27,000. Rise Advisors LLC raised 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 valued at $31,000 after purchasing an additional 129 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of DTE Energy by 104.4% in 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 last quarter. Denali Advisors LLC acquired a new stake in shares of DTE Energy in the first quarter valued at approximately $34,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of DTE Energy by 82.3% in the first quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 195 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DTE Energy 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 transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the business’s 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 approximately $498,041.31. The disclosure for this sale can be found here. Insiders sold a total of 14,698 shares of company stock valued at $1,702,444 over the last quarter. 0.61% of the stock is owned by corporate insiders.

DTE Energy Stock Performance

DTE stock traded up $2.85 during midday trading on Thursday, reaching $123.38. 1,040,046 shares of the company were exchanged, compared to its average volume of 1,098,490. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The business has a 50-day moving average price of $113.29 and a two-hundred day moving average price of $110.56. DTE Energy has a one year low of $90.14 and a one year high of $123.54. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.21 and a beta of 0.66.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of recent research reports. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Barclays raised their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday. BMO Capital Markets raised their target price 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, July 15th. Morgan Stanley decreased 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 note on Monday, June 24th. Finally, KeyCorp raised their target price on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.30.

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.