DTE Energy Co. (DTE) Shares Gap Up to $95.88
DTE Energy Co. (NYSE:DTE) gapped up before the market opened on Friday . The stock had previously closed at $95.61, but opened at $95.88. DTE Energy shares last traded at $96.49, with a volume of 295,727 shares traded.
Several equities research analysts have weighed in on DTE shares. Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Deutsche Bank AG reissued a “hold” rating and set a $90.00 price objective on shares of DTE Energy in a research note on Tuesday, April 19th. Barclays PLC reissued a “buy” rating and set a $108.00 price objective on shares of DTE Energy in a research note on Thursday, July 28th. KeyCorp reissued an “outperform” rating and set a $102.50 price objective (up from $97.00) on shares of DTE Energy in a research note on Saturday, July 2nd. Finally, BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $99.10.
The firm has a market capitalization of $17.29 billion and a price-to-earnings ratio of 23.27. The stock’s 50-day moving average is $97.56 and its 200 day moving average is $90.88.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. The company earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that DTE Energy Co. will post $5.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.20%. This is a boost from DTE Energy’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, September 15th.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.96, for a total value of $1,714,300.00. Following the transaction, the chairman now directly owns 77,500 shares of the company’s stock, valued at approximately $7,591,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa A. Muschong sold 1,075 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $92.79, for a total transaction of $99,749.25. Following the completion of the transaction, the insider now directly owns 2,986 shares in the company, valued at $277,070.94. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the stock. Eaton Vance Management raised its position 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 in the last quarter. Suntrust Banks Inc. raised its position 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 in the last quarter. Advisors Asset Management Inc. raised its position in shares of DTE Energy by 4.0% in the fourth quarter. Advisors Asset Management Inc. now owns 20,401 shares of the company’s stock worth $1,636,000 after buying an additional 789 shares in the last quarter. KBC Group NV raised its position in shares of DTE Energy by 57.2% in the fourth quarter. KBC Group NV now owns 22,009 shares of the company’s stock worth $1,764,000 after buying an additional 8,004 shares in the last quarter. Finally, Utah Retirement Systems raised its position in shares of DTE Energy by 0.3% in the fourth quarter. Utah Retirement Systems now owns 32,180 shares of the company’s stock worth $2,580,000 after buying an additional 100 shares in the last quarter.
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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