DTE Energy Company $DTE Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in DTE Energy by 2.3%, holding 88,986 shares worth approximately $12.22 million.
• DTE Energy recently reported $2.91 billion in revenue for the quarter, exceeding analyst estimates, though the earnings per share missed by $0.01.
• The company announced a quarterly dividend of $1.09 per share, resulting in a yield of 3.2% for shareholders.

Aberdeen Group plc lifted its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,986 shares of the utilities provider's stock after buying an additional 2,021 shares during the quarter. Aberdeen Group plc's holdings in DTE Energy were worth $12,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in DTE Energy by 14,878.4% during the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock worth $163,655,000 after purchasing an additional 1,175,689 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of DTE Energy by 1,794.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after acquiring an additional 871,978 shares during the period. AQR Capital Management LLC increased its holdings in shares of DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after acquiring an additional 851,169 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after acquiring an additional 512,567 shares during the period. Finally, Nuveen LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at $67,315,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Performance

DTE Energy stock traded down $0.3280 during mid-day trading on Friday, reaching $139.8720. 1,257,249 shares of the company traded hands, compared to its average volume of 1,310,461. The firm's fifty day moving average is $135.85 and its two-hundred day moving average is $134.43. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05. 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 announced its quarterly earnings data 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). The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. On average, equities research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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

Wall Street Analyst Weigh In

DTE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Evercore ISI lifted their price target on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $151.00 price target (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays lifted their price target on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their price target on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $142.29.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

DTE Energy Company 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.