DTE Energy Company $DTE Stake Trimmed by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in DTE Energy by 6.4%, selling 8,687 shares during the first quarter, leaving them with a total of 127,063 shares valued at approximately $17.57 million.
• The recent earnings report revealed that DTE Energy missed the consensus EPS estimate by one cent, reporting $1.36 per share, while revenue was $2.91 billion, exceeding expectations.
• DTE Energy has announced a quarterly dividend of $1.09 per share, set to be paid on October 15th, with a current dividend yield of 3.1%.

American Century Companies Inc. trimmed its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,063 shares of the utilities provider's stock after selling 8,687 shares during the period. American Century Companies Inc. owned 0.06% of DTE Energy worth $17,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of DTE. Janus Henderson Group PLC increased its holdings in shares of DTE Energy by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after buying an additional 12,554 shares during the last quarter. Northern Trust Corp lifted its position in shares of DTE Energy by 4.7% in the 4th quarter. Northern Trust Corp now owns 1,827,168 shares of the utilities provider's stock worth $220,631,000 after purchasing an additional 81,935 shares during the period. JPMorgan Chase & Co. lifted its position 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 worth $194,341,000 after purchasing an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. lifted its position in DTE Energy by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock valued at $181,978,000 after acquiring an additional 9,443 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in DTE Energy by 14,878.4% during the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after acquiring an additional 1,175,689 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore ISI upped their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays increased 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. JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Monday. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.86.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president directly owned 4,153 shares in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

DTE Energy Stock Performance

DTE traded up $0.38 during trading on Wednesday, hitting $138.48. The stock had a trading volume of 700,477 shares, compared to its average volume of 1,188,279. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The firm has a market capitalization of $28.75 billion, a P/E ratio of 19.93, a PEG ratio of 2.74 and a beta of 0.42. The company's 50-day moving average price is $136.21 and its 200 day moving average price is $134.59.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The firm had revenue of $2.91 billion during 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 forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.1%. DTE Energy's dividend payout ratio (DPR) is 62.73%.

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.