Key Points
- DTE Energy Vice Chairman Trevor Lauer sold 5,000 shares at an average price of $135.71, generating $678,550 and reducing his position by 6.4%.
- DTE reported quarterly EPS of $1.32, exceeding analysts’ $1.14 estimate, while shares traded near $136.87, below their 50-day and 200-day moving averages.
- The company declared a quarterly dividend of $1.165 per share, equivalent to a $4.66 annualized payout and a 3.4% yield; analysts maintain a consensus “Moderate Buy” rating with a $157 price target.
DTE Energy Company (NYSE:DTE - Get Free Report) Vice Chairman Trevor Lauer sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the transaction, the insider owned 73,122 shares of the company's stock, valued at $9,923,386.62. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
DTE Energy Stock Performance
Shares of NYSE:DTE opened at $136.87 on Friday. The firm has a fifty day simple moving average of $143.86 and a two-hundred day simple moving average of $145.24. DTE Energy Company has a 52 week low of $126.23 and a 52 week high of $155.74. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of $28.48 billion, a P/E ratio of 21.66, a PEG ratio of 2.96 and a beta of 0.37.
DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.18. The firm had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $3.36 billion. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. During the same period in the prior year, the company earned $1.36 EPS. On average, analysts expect that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be paid a dividend of $1.165 per share. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 21st. DTE Energy's payout ratio is presently 73.73%.
Institutional Trading of DTE Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of DTE Energy by 15,158.5% during the second quarter. California State Teachers Retirement System now owns 36,841,390 shares of the utilities provider's stock valued at $5,613,523,000 after buying an additional 36,599,942 shares during the period. BlackRock Inc. purchased a new stake in shares of DTE Energy in the second quarter worth approximately $3,915,284,000. Capital Research Global Investors lifted its stake in shares of DTE Energy by 3.1% during the 4th quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider's stock worth $1,605,539,000 after acquiring an additional 379,443 shares during the last quarter. State Street Corp lifted its stake in shares of DTE Energy by 2.5% during the 4th quarter. State Street Corp now owns 11,078,346 shares of the utilities provider's stock worth $1,441,776,000 after acquiring an additional 272,068 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in DTE Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider's stock valued at $718,668,000 after acquiring an additional 117,322 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on DTE shares. Weiss Ratings raised DTE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Morgan Stanley cut their target price on DTE Energy from $153.00 to $148.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target on shares of DTE Energy in a report on Monday, June 15th. BMO Capital Markets lowered their price target on DTE Energy from $150.00 to $143.00 and set a "market perform" rating for the company in a research report on Friday, August 28th. Finally, Mizuho lowered their price target on DTE Energy from $164.00 to $152.00 and set an "outperform" rating for the company in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and a consensus price target of $157.00.
Read Our Latest Research Report on DTE Energy
DTE Energy Company Profile
(
Get Free Report)
DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company's utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.
Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.
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