DTE Energy (NYSE:DTE) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System grew its position in shares of DTE Energy (NYSE:DTE) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,577 shares of the utilities provider’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in DTE Energy were worth $6,345,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. raised its stake in shares of DTE Energy by 104.4% during the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after buying an additional 143 shares during the period. Rise Advisors LLC boosted its holdings in DTE Energy by 89.6% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of DTE Energy in the fourth quarter worth approximately $53,000. Principal Securities Inc. purchased a new stake in shares of DTE Energy during the fourth quarter worth $54,000. Finally, Quarry LP purchased a new stake in DTE Energy during the 4th quarter valued at about $63,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DTE Energy

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’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 sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. 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 in the last ninety days. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DTE shares. Morgan Stanley dropped their target price on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, June 24th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Barclays increased their price objective on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. BMO Capital Markets upped their price target on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Finally, KeyCorp upped 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $115.67.

DTE Energy Price Performance

Shares of NYSE:DTE opened at $109.40 on Wednesday. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.66. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The business’s 50 day simple moving average is $112.94 and its 200-day simple moving average is $109.90. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.44.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data 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 firm 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, equities analysts forecast that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.73%. DTE Energy’s dividend payout ratio is presently 66.78%.

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.