DTE Energy Co. (DTE) Sees Strong Trading Volume
DTE Energy Co. (NYSE:DTE) shares saw unusually-high trading volume on Thursday . Approximately 1,494,327 shares were traded during trading, an increase of 25% from the previous session’s volume of 1,193,742 shares.The stock last traded at $96.42 and had previously closed at $95.07.
Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 25th. 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. KeyCorp reiterated an “outperform” rating and set a $102.50 price target (up from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. Finally, BMO Capital Markets reiterated a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $99.10.
The company has a market capitalization of $17.35 billion and a price-to-earnings ratio of 23.35. The firm’s 50 day moving average price is $97.39 and its 200-day moving average price is $91.22.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. During the same period last year, the business posted $0.76 earnings per share. The business earned $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. The firm’s quarterly revenue was down .3% on a year-over-year basis. Analysts anticipate that DTE Energy Co. will post $5.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be issued a $0.77 dividend. This is an increase from DTE Energy’s previous quarterly dividend of $0.73. This represents a $3.08 annualized dividend and a yield of 3.19%. 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 firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 2,986 shares of the company’s stock, valued at approximately $277,070.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gerard M. Anderson sold 17,500 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the completion of the transaction, the chairman now directly owns 77,500 shares of the company’s stock, valued at $7,591,900. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. increased its position in shares of 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 last quarter. 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 valued at $1,084,000 after buying an additional 775 shares during the last quarter. 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 valued at $1,636,000 after buying an additional 789 shares during the last quarter. US Bancorp DE increased its position 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, KBC Group NV increased its position 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.
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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