DTE Energy Co. (DTE) Shares Down 2.7%
Shares of DTE Energy Co. (NYSE:DTE) dropped 2.7% during mid-day trading on Friday . The stock traded as low as $92.49 and last traded at $92.56, with a volume of 792,338 shares changing hands. The stock had previously closed at $95.16.
DTE has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 25th. BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. KeyCorp reissued an “outperform” rating and set a $102.50 price target (up previously from $97.00) on shares of DTE Energy in a research report on Saturday, July 2nd. Finally, Barclays PLC reissued a “buy” rating and set a $108.00 price target on shares of DTE Energy in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. DTE Energy currently has an average rating of “Buy” and an average price target of $99.10.
The stock has a market cap of $16.61 billion and a PE ratio of 22.36. The stock has a 50-day moving average of $96.64 and a 200 day moving average of $91.57.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts predict that DTE Energy Co. will post $5.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.77 per share. This is an increase from DTE Energy’s previous quarterly dividend of $0.73. The ex-dividend date is Thursday, September 15th. This represents a $3.08 annualized dividend and a dividend yield of 3.33%.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lisa A. Muschong sold 1,075 shares of the business’s stock in a transaction that occurred 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 completion of 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 large investors recently bought and sold shares of the company. RS Investment Management Co. LLC bought a new stake in DTE Energy during the fourth quarter valued at $5,892,000. BlackRock Advisors LLC raised its stake in DTE Energy by 46.7% in the fourth quarter. BlackRock Advisors LLC now owns 223,082 shares of the company’s stock valued at $17,889,000 after buying an additional 70,991 shares during the period. Finally, 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.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.