DTE Energy Co. (DTE) Sees Large Volume Increase
DTE Energy Co. (NYSE:DTE) shares saw unusually-strong trading volume on Friday . Approximately 1,551,226 shares traded hands during trading, an increase of 55% from the previous session’s volume of 1,003,120 shares.The stock last traded at $97.43 and had previously closed at $97.10.
Several equities analysts have issued reports on DTE shares. Zacks Investment Research cut DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday, April 18th. KeyCorp restated an “outperform” rating and issued 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 restated a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Deutsche Bank AG restated a “hold” rating and issued a $90.00 price target on shares of DTE Energy in a report on Tuesday, April 19th. Finally, Barclays PLC restated an “overweight” rating and issued a $97.00 price target (up previously from $91.00) on shares of DTE Energy in a report on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $99.10.
The company’s 50 day moving average price is $96.91 and its 200 day moving average price is $89.82. The company has a market cap of $17.50 billion and a PE ratio of 23.55.
DTE Energy (NYSE:DTE) last released 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 business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm posted $0.76 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that DTE Energy Co. will post $5.04 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Thursday, September 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.73. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.16%.
In other news, CEO Gerard M. Anderson sold 20,000 shares of DTE Energy stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,795,000.00. Following the sale, the chief executive officer now owns 95,000 shares of the company’s stock, valued at $8,526,250. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa A. Muschong sold 1,075 shares of DTE Energy stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $92.79, for a total value of $99,749.25. Following the sale, the insider now directly owns 2,986 shares in the company, valued at approximately $277,070.94. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in DTE. BlackRock Advisors LLC boosted its stake in shares of 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 last quarter. Utah Retirement Systems boosted its stake 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 valued at $2,580,000 after buying an additional 100 shares during the last quarter. KBC Group NV boosted its stake 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 valued at $1,764,000 after buying an additional 8,004 shares during the last quarter. US Bancorp DE boosted its stake in shares of DTE Energy by 219.7% in the fourth quarter. US Bancorp DE now owns 49,693 shares of the company’s stock valued at $3,984,000 after buying an additional 34,148 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake 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 valued at $1,636,000 after buying an additional 789 shares during 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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