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 trading hands.
Several brokerages recently commented on DTE. Zacks Investment Research downgraded 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 target price (up from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. Barclays PLC reiterated a “buy” rating and set a $108.00 target price on shares of DTE Energy in a report on Thursday, July 28th. 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 target price on shares of DTE Energy in a report on Tuesday, April 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. DTE Energy has a consensus rating of “Buy” and a consensus target price of $99.10.
The stock has a 50 day moving average of $97.56 and a 200-day moving average of $90.88. The firm has a market cap of $17.29 billion and a P/E ratio of 23.27.
DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The firm earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the firm earned $0.76 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that DTE Energy Co. will post $5.07 earnings per share for the current fiscal 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 paid a $0.77 dividend. The ex-dividend date of this dividend is Thursday, September 15th. 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.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,500 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 77,500 shares in the company, valued at $7,591,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa A. Muschong sold 1,075 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $92.79, for a total value of $99,749.25. Following the completion of the transaction, the insider now 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 hedge funds and institutional investors have recently modified their holdings of the stock. Utah Retirement Systems increased 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 during the period. Eaton Vance Management increased 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 during the period. Advisors Asset Management Inc. increased 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 during the period. American International Group Inc. increased its position in shares of DTE Energy by 2.6% in the fourth quarter. American International Group Inc. now owns 76,736 shares of the company’s stock worth $6,154,000 after buying an additional 1,957 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its position in shares of DTE Energy by 12.2% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 33,100 shares of the company’s stock worth $2,654,000 after buying an additional 3,600 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.