DTE Energy Co. (DTE) Trading Down 1.2%
DTE Energy Co. (NYSE:DTE) shares fell 1.2% during trading on Monday . The stock traded as low as $95.19 and last traded at $95.19, with a volume of 308,755 shares. The stock had previously closed at $96.38.
Several research firms have recently commented on DTE. Barclays PLC reiterated a “buy” rating and set a $108.00 price target on shares of DTE Energy in a report on Thursday, July 28th. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 25th. KeyCorp reiterated an “outperform” rating and set a $102.50 price target (up previously from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. BMO Capital Markets reiterated a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $90.00 price target on shares of DTE Energy in a report on Tuesday, April 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $99.10.
The company has a market cap of $17.00 billion and a PE ratio of 22.88. The stock’s 50 day moving average is $97.53 and its 200 day moving average is $91.09.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The business earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.36 billion. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Equities research analysts predict that DTE Energy Co. will post $5.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, September 19th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.25%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, September 15th.
In other DTE Energy news, insider Lisa A. Muschong sold 1,075 shares of the company’s stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gerard M. Anderson sold 17,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 77,500 shares in the company, valued at approximately $7,591,900. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Eaton Vance Management raised its stake in DTE Energy by 6.1% in the fourth quarter. Eaton Vance Management now owns 13,523 shares of the company’s stock valued at $1,084,000 after buying an additional 775 shares during the period. Suntrust Banks Inc. raised its stake in DTE Energy by 68.0% in the fourth quarter. Suntrust Banks Inc. now owns 18,761 shares of the company’s stock valued at $1,503,000 after buying an additional 7,594 shares during the period. Advisors Asset Management Inc. raised its stake in DTE Energy by 4.0% in the fourth quarter. Advisors Asset Management Inc. now owns 20,401 shares of the company’s stock valued at $1,636,000 after buying an additional 789 shares during the period. KBC Group NV raised its stake in DTE Energy by 57.2% in the fourth quarter. KBC Group NV now owns 22,009 shares of the company’s stock valued at $1,764,000 after buying an additional 8,004 shares during the period. Finally, Utah Retirement Systems raised its stake in DTE Energy by 0.3% in the fourth quarter. Utah Retirement Systems now owns 32,180 shares of the company’s stock valued at $2,580,000 after buying an additional 100 shares during the period.
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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