Rockport Wealth LLC Takes $205,000 Position in DTE Energy (NYSE:DTE)

Rockport Wealth LLC bought a new stake in shares of DTE Energy (NYSE:DTE) during the 1st quarter, HoldingsChannel.com reports. The fund bought 1,829 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other large investors also recently added to or reduced their stakes in the business. PBMares Wealth Management LLC grew its stake in shares of DTE Energy by 4.5% during the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock valued at $254,000 after buying an additional 100 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in shares of DTE Energy by 2.2% in the 1st quarter. Center for Financial Planning Inc. now owns 4,972 shares of the utilities provider’s stock valued at $558,000 after acquiring an additional 105 shares during the last quarter. TIAA Trust National Association boosted its holdings in DTE Energy by 2.9% during the 1st quarter. TIAA Trust National Association now owns 3,771 shares of the utilities provider’s stock valued at $423,000 after acquiring an additional 106 shares during the period. Texas Permanent School Fund Corp grew its position in DTE Energy by 0.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock worth $4,700,000 after acquiring an additional 107 shares during the last quarter. Finally, Secure Asset Management LLC increased its stake in DTE Energy by 1.7% in the 4th quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DTE. Scotiabank dropped their price objective on 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. Morgan Stanley decreased their price objective on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Barclays increased their target price on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, BMO Capital Markets boosted their price target on DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.78.

DTE Energy Stock Down 1.1 %

Shares of DTE traded down $1.31 on Tuesday, reaching $115.90. The stock had a trading volume of 635,193 shares, compared to its average volume of 1,099,528. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy has a 12-month low of $90.14 and a 12-month high of $118.58. The firm has a market capitalization of $23.98 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. The company has a 50-day simple moving average of $112.94 and a 200-day simple moving average of $110.14.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. Sell-side analysts predict that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is currently 66.78%.

Insiders Place Their Bets

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 transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on 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 directly owns 59,475 shares in the company, valued at $6,843,788.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy 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 completion of 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. Over the last quarter, insiders have sold 14,698 shares of company stock worth $1,702,444. 0.61% of the stock is currently owned by company insiders.

DTE Energy 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.