2,004 Shares in DTE Energy Company $DTE Purchased by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC acquired 2,004 shares of DTE Energy, valued at approximately $277,000, marking a significant investment in the utility provider.
• Insider transactions were noted, including VP Lisa A. Muschong selling 1,600 shares, resulting in a 27.81% decrease in her ownership stake.
• DTE Energy's recent earnings report revealed an EPS of $1.36, slightly missing analyst expectations of $1.37, while the company also announced a quarterly dividend of $1.09 per share.

ICONIQ Capital LLC acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,004 shares of the utilities provider's stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cloud Capital Management LLC bought a new position in shares of DTE Energy during the first quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in DTE Energy during the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DTE Energy during the 1st quarter valued at about $28,000. SouthState Corp purchased a new position in DTE Energy in the first quarter worth about $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in DTE Energy in the first quarter worth about $31,000. Institutional investors own 76.06% of the company's stock.

Insider Buying and Selling

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on DTE. Citigroup reaffirmed a "buy" rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wells Fargo & Company lifted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Barclays boosted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Evercore ISI boosted their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of "Moderate Buy" and a consensus target price of $142.43.

DTE Energy Stock Down 1.0%

DTE opened at $138.4890 on Tuesday. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.78 and a beta of 0.42. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average price of $135.96 and a 200-day moving average price of $134.54.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. Equities research analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio is currently 62.73%.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.

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