DTE Energy Co. (DTE) Sees Strong Trading Volume
Shares of DTE Energy Co. (NYSE:DTE) 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.
DTE has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. KeyCorp reissued an “outperform” rating and set a $102.50 price objective (up previously from $97.00) on shares of DTE Energy in a research report on Saturday, July 2nd. BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. Finally, Barclays PLC restated a “buy” rating and set a $108.00 target price on shares of DTE Energy in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $99.10.
The company has a 50 day moving average of $97.26 and a 200 day moving average of $91.29. The company has a market cap of $16.99 billion and a price-to-earnings ratio of 22.87.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.09. The company earned $2.26 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business posted $0.76 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that DTE Energy Co. will post $5.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, September 19th will be issued a $0.77 dividend. The ex-dividend date is Thursday, September 15th. This is a boost 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 3.25%.
In other DTE Energy news, 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 value of $1,714,300.00. Following the completion of the transaction, the chairman now owns 77,500 shares of the company’s stock, valued at $7,591,900. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Lisa A. Muschong sold 1,075 shares of the firm’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 completion of the transaction, the insider now directly owns 2,986 shares of the company’s stock, valued at approximately $277,070.94. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. RS Investment Management Co. LLC bought a new position in DTE Energy during the fourth quarter worth about $5,892,000. BlackRock Advisors LLC boosted its position in DTE Energy by 46.7% in the fourth quarter. BlackRock Advisors LLC now owns 223,082 shares of the company’s stock worth $17,889,000 after buying an additional 70,991 shares in the last quarter. KBC Group NV boosted its position in DTE Energy by 57.2% in the fourth quarter. KBC Group NV now owns 22,009 shares of the company’s stock worth $1,764,000 after buying an additional 8,004 shares in the last quarter. Suntrust Banks Inc. boosted its position in DTE Energy by 68.0% in the fourth quarter. Suntrust Banks Inc. now owns 18,761 shares of the company’s stock worth $1,503,000 after buying an additional 7,594 shares in the last quarter. Finally, American International Group Inc. boosted its position in 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 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.