DTE Energy Co. (DTE) Hits New 52-Week High at $100.45
DTE Energy Co. (NYSE:DTE)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $100.45 and last traded at $99.73, with a volume of 510,707 shares changing hands. The stock had previously closed at $100.10.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered DTE Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. Barclays PLC reissued an “overweight” rating and issued a $97.00 target price (up previously from $91.00) on shares of DTE Energy in a research note on Thursday, April 7th. BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Finally, KeyCorp reissued an “outperform” rating and issued a $102.50 target price (up previously from $97.00) on shares of DTE Energy in a research note on Saturday, July 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. DTE Energy presently has an average rating of “Buy” and an average target price of $96.90.
The firm has a market capitalization of $17.62 billion and a P/E ratio of 25.21. The stock has a 50 day moving average of $93.67 and a 200 day moving average of $87.83.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. During the same quarter in the prior year, the firm earned $1.65 EPS. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.97 billion. The company’s revenue was down 14.0% on a year-over-year basis. Analysts predict that DTE Energy Co. will post $4.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be given a dividend of $0.77 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $0.73. The ex-dividend date is Thursday, September 15th. This represents a $3.08 dividend on an annualized basis and a yield of 3.14%.
In related news, insider Lisa A. Muschong sold 1,075 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $92.79, for a total transaction of $99,749.25. Following the sale, the insider now owns 2,986 shares in the company, valued at approximately $277,070.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerard M. Anderson sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $89.75, for a total value of $1,795,000.00. Following the sale, the chief executive officer now owns 95,000 shares in the company, valued at approximately $8,526,250. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Nationwide Fund Advisors raised its stake in shares of DTE Energy by 4.5% in the fourth quarter. Nationwide Fund Advisors now owns 146,454 shares of the company’s stock worth $11,744,000 after buying an additional 6,361 shares in the last quarter. Korea Investment CORP raised its stake in shares of DTE Energy by 86.4% in the fourth quarter. Korea Investment CORP now owns 50,700 shares of the company’s stock worth $4,065,000 after buying an additional 23,500 shares in the last quarter. World Asset Management Inc raised its stake in shares of DTE Energy by 1.6% in the fourth quarter. World Asset Management Inc now owns 19,970 shares of the company’s stock worth $1,602,000 after buying an additional 308 shares in the last quarter. Swiss National Bank raised its stake in shares of DTE Energy by 1.9% in the fourth quarter. Swiss National Bank now owns 326,025 shares of the company’s stock worth $26,144,000 after buying an additional 6,000 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of DTE Energy by 23.2% in the fourth quarter. Sei Investments Co. now owns 54,710 shares of the company’s stock worth $4,387,000 after buying an additional 10,319 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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