DTE Energy Co. (DTE) Stock Price Down 2.7%
DTE Energy Co. (NYSE:DTE) shares dropped 2.7% on Friday . The stock traded as low as $92.49 and last traded at $92.56, with a volume of 792,338 shares trading hands. The stock had previously closed at $95.16.
DTE has been the subject of several research reports. Zacks Investment Research cut DTE Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. KeyCorp reaffirmed an “outperform” rating and set a $102.50 target price (up previously from $97.00) on shares of DTE Energy in a research note on Saturday, July 2nd. BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $108.00 target price on shares of DTE Energy in a research note on Thursday, July 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $99.10.
The company has a market capitalization of $16.61 billion and a price-to-earnings ratio of 22.36. The firm’s 50-day moving average price is $96.64 and its 200-day moving average price is $91.57.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. During the same period in the prior year, the firm earned $0.76 EPS. The company earned $2.26 billion during the quarter, compared to analyst estimates of $2.36 billion. DTE Energy’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts expect that DTE Energy Co. will post $5.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, September 19th will be given a $0.77 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $3.08 annualized dividend and a yield of 3.33%. This is an increase from DTE Energy’s previous quarterly dividend of $0.73.
In other DTE Energy news, insider Lisa A. Muschong sold 1,075 shares of DTE Energy stock in a transaction on Friday, June 3rd. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Gerard M. Anderson sold 17,500 shares of DTE Energy 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 approximately $7,591,900. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of DTE. RS Investment Management Co. LLC acquired a new position in shares of DTE Energy during the fourth quarter valued at about $5,892,000. BlackRock Advisors LLC increased its position 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. 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. 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. Finally, 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.
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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