Boston Partners Sells 72,115 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• Boston Partners has reduced its stake in DTE Energy by 2.5%, selling 72,115 shares and holding approximately 2.83 million shares worth around $390.97 million at the end of the first quarter.
• A total of 76.06% of DTE Energy's stock is owned by institutional investors, with several firms increasing their holdings during the same period.
• DTE Energy reported a quarterly earnings miss, posting earnings of $1.36 per share while analysts expected $1.37, although revenues surpassed forecasts at $2.91 billion.

Boston Partners reduced its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,827,708 shares of the utilities provider's stock after selling 72,115 shares during the quarter. Boston Partners owned 1.36% of DTE Energy worth $390,970,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. Capital World Investors boosted its position in shares of DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after buying an additional 3,766,221 shares during the period. Janus Henderson Group PLC grew its stake in shares of DTE Energy by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock valued at $329,988,000 after purchasing an additional 12,554 shares during the last quarter. Northern Trust Corp raised its holdings in DTE Energy by 4.7% during 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 last quarter. JPMorgan Chase & Co. lifted its stake in DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after buying an additional 512,567 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $181,978,000 after purchasing an additional 9,443 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

Insider Transactions at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

DTE Energy Trading Down 0.8%

DTE Energy stock traded down $1.05 during midday trading on Friday, reaching $138.88. 1,296,533 shares of the stock traded hands, compared to its average volume of 1,361,552. The firm has a market cap of $28.83 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42. The company has a 50-day simple moving average of $135.39 and a two-hundred day simple moving average of $133.58. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $141.54. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last posted 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 business had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.67 billion. Research analysts expect that DTE Energy Company will post 7.18 earnings per share 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%.

Analysts Set New Price Targets

DTE has been the topic of a number of analyst reports. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Morgan Stanley decreased their target price on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets lifted their price target on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research note on Monday, April 21st. Finally, Evercore ISI boosted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $142.29.

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.