California State Teachers Retirement System Acquires 36,599,942 Shares of DTE Energy Company $DTE

California State Teachers Retirement System boosted its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 15,158.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,841,390 shares of the utilities provider's stock after buying an additional 36,599,942 shares during the quarter. California State Teachers Retirement System owned approximately 17.70% of DTE Energy worth $5,613,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Bancorp Inc ME acquired a new position in DTE Energy during the second quarter worth about $29,000. Key Financial Inc bought a new position in shares of DTE Energy in the first quarter worth about $29,000. Elyxium Wealth LLC acquired a new stake in shares of DTE Energy in the 4th quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of DTE Energy in the 2nd quarter valued at approximately $35,000. Finally, Optiver Holding B.V. bought a new stake in shares of DTE Energy during the 1st quarter valued at approximately $36,000. Institutional investors own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DTE. TD Cowen initiated coverage on shares of DTE Energy in a research report on Tuesday, July 7th. They set a "hold" rating and a $166.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $155.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $172.00 price target on shares of DTE Energy in a report on Thursday, July 9th. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, BMO Capital Markets dropped their price target on DTE Energy from $150.00 to $143.00 and set a "market perform" rating for the company in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.00.

Insider Activity

In other news, Vice Chairman Trevor Lauer sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider owned 73,122 shares of the company's stock, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

DTE Energy Stock Performance

NYSE:DTE opened at $136.03 on Thursday. The stock's 50-day moving average is $142.52 and its 200-day moving average is $145.02. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The company has a current ratio of 0.80, a quick ratio of 0.53 and a debt-to-equity ratio of 2.13. The stock has a market cap of $28.31 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.98 and a beta of 0.37.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the business earned $1.36 EPS. Equities research analysts anticipate that DTE Energy Company will post 7.71 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a $1.165 dividend. This represents a $4.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy's dividend payout ratio is 73.73%.

DTE Energy Profile

DTE Energy Company is a diversified energy holding company headquartered in Detroit, Michigan. Its principal businesses are DTE Electric, which generates, transmits and distributes electricity, and DTE Gas, which stores, transports and distributes natural gas. Through these utilities, the company serves residential, commercial and industrial customers primarily throughout southeastern Michigan.

DTE Energy also operates businesses involved in energy marketing and trading, renewable and conventional power generation, and other energy-related services.

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