DTE Energy Company (DTE) Sets New 1-Year High at $112.77
DTE Energy Company (NYSE:DTE) reached a new 52-week high on Tuesday . The stock traded as high as $112.77 and last traded at $112.77, with a volume of 529,464 shares changing hands. The stock had previously closed at $112.12.
Several equities research analysts recently weighed in on the company. Jefferies Group LLC reissued a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a report on Tuesday, August 29th. KeyCorp reissued a “buy” rating and set a $113.00 price objective on shares of DTE Energy in a report on Sunday, August 27th. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets reissued a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. DTE Energy presently has a consensus rating of “Buy” and a consensus target price of $109.20.
The company has a 50-day moving average of $109.40 and a 200 day moving average of $105.97. The company has a market cap of $20.03 billion, a PE ratio of 19.23 and a beta of 0.22.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $0.98 earnings per share. DTE Energy’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, analysts anticipate that DTE Energy Company will post $5.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a $0.825 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a yield of 2.95%. DTE Energy’s dividend payout ratio (DPR) is presently 56.60%.
In other DTE Energy news, insider Mark W. Stiers sold 3,632 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the completion of the sale, the insider now directly owns 25,257 shares in the company, valued at $2,779,027.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gerard M. Anderson sold 12,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $106.83, for a total transaction of $1,281,960.00. Following the completion of the sale, the chairman now owns 80,000 shares of the company’s stock, valued at $8,546,400. The disclosure for this sale can be found here. Insiders sold 25,631 shares of company stock valued at $2,756,681 over the last 90 days. 0.53% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Pacad Investment Ltd. purchased a new stake in DTE Energy in the second quarter worth about $106,000. Gradient Investments LLC lifted its holdings in DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock worth $111,000 after buying an additional 3 shares during the period. Sun Life Financial INC lifted its holdings in DTE Energy by 13,030.0% in the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock worth $139,000 after buying an additional 1,303 shares during the period. Vantage Investment Advisors LLC lifted its holdings in DTE Energy by 0.8% in the second quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock worth $140,000 after buying an additional 10 shares during the period. Finally, Tortoise Capital Advisors L.L.C. lifted its holdings in DTE Energy by 335.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,032 shares during the period. Institutional investors and hedge funds own 68.63% of the company’s stock.
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About DTE Energy
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