MBB Public Markets I LLC Buys New Stake in DTE Energy Company $DTE

Key Points

• MBB Public Markets I LLC has acquired a new position in DTE Energy, purchasing 2,331 shares valued at approximately $322,000 during Q1.
• DTE Energy's quarterly earnings report indicated earnings per share of $1.36, slightly missing analysts' estimates, while revenues surpassed expectations at $2.91 billion.
• The company is set to pay a quarterly dividend of $1.09 on October 15th, indicating an annualized yield of 3.2%, with a payout ratio of 62.73%.

MBB Public Markets I LLC acquired a new stake in shares of DTE Energy Company (NYSE:DTE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,331 shares of the utilities provider's stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Graypoint LLC lifted its holdings in shares of DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock valued at $279,000 after purchasing an additional 74 shares during the last quarter. UMB Bank n.a. increased its position in shares of DTE Energy by 0.9% in the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after acquiring an additional 78 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of DTE Energy by 2.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after acquiring an additional 78 shares during the period. Stephens Inc. AR increased its position in shares of DTE Energy by 1.8% in the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock valued at $630,000 after acquiring an additional 81 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of DTE Energy by 1.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,721 shares of the utilities provider's stock valued at $929,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays upped their target price on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Morgan Stanley set a $140.00 target price on DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Citigroup reaffirmed a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.25.

DTE Energy Price Performance

DTE Energy stock traded down $0.02 during midday trading on Friday, reaching $136.74. The company had a trading volume of 940,281 shares, compared to its average volume of 907,431. The company has a market capitalization of $28.39 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.72 and a beta of 0.42. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $142.05. The firm's fifty day simple moving average is $137.23 and its 200-day simple moving average is $135.18. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share 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 company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. As a group, equities analysts anticipate that DTE Energy Company will post 7.18 EPS 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 paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is 62.73%.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy 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 sale, the vice president owned 4,153 shares of the company's stock, valued at approximately $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

DTE Energy Profile

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.