DTE Energy Co. (DTE) Stock Price Down 0.8%
Shares of DTE Energy Co. (NYSE:DTE) traded down 0.8% during trading on Tuesday . The company traded as low as $97.32 and last traded at $98.20, with a volume of 401,483 shares traded. The stock had previously closed at $98.96.
DTE has been the subject of several analyst reports. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Monday, June 20th. Barclays PLC restated an “overweight” rating and set a $97.00 target price (up previously from $91.00) on shares of DTE Energy in a research report on Thursday, April 7th. BMO Capital Markets restated a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. Deutsche Bank AG restated a “hold” rating and set a $90.00 target price on shares of DTE Energy in a research report on Tuesday, April 19th. Finally, KeyCorp restated an “outperform” rating and set a $102.50 target price (up previously from $97.00) on shares of DTE Energy in a research report on Saturday, July 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. DTE Energy has an average rating of “Buy” and an average target price of $96.90.
The firm’s 50 day moving average price is $94.57 and its 200-day moving average price is $88.32. The firm has a market capitalization of $17.53 billion and a PE ratio of 25.08.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company earned $2.57 billion during the quarter, compared to analyst estimates of $2.97 billion. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities analysts anticipate that DTE Energy Co. will post $4.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, September 15th. This represents a $3.08 dividend on an annualized basis and a yield of 3.11%. This is an increase from DTE Energy’s previous quarterly dividend of $0.73.
In other DTE Energy news, CAO David E. Meador sold 6,700 shares of the stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $90.14, for a total transaction of $603,938.00. Following the completion of the sale, the chief accounting officer now directly owns 19,000 shares in the company, valued at approximately $1,712,660. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lisa A. Muschong sold 1,075 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $92.79, for a total value of $99,749.25. Following the sale, the insider now owns 2,986 shares of the company’s stock, valued at $277,070.94. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of DTE. Commerzbank Aktiengesellschaft FI increased its stake in shares of DTE Energy by 153.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,586 shares of the company’s stock worth $1,009,000 after buying an additional 7,612 shares during the last quarter. Eaton Vance Management increased its stake in shares of DTE Energy by 6.1% in the fourth quarter. Eaton Vance Management now owns 13,523 shares of the company’s stock worth $1,084,000 after buying an additional 775 shares during the last quarter. Starfire Investment Advisers Inc. increased its stake in shares of DTE Energy by 2.2% in the fourth quarter. Starfire Investment Advisers Inc. now owns 15,034 shares of the company’s stock worth $1,206,000 after buying an additional 322 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of DTE Energy by 68.0% in the fourth quarter. Suntrust Banks Inc. now owns 18,761 shares of the company’s stock worth $1,503,000 after buying an additional 7,594 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of DTE Energy during the fourth quarter worth $1,571,000.
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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