Canada Pension Plan Investment Board Sells 167,096 Shares of DTE Energy Company $DTE

Key Points

• Canada Pension Plan Investment Board reduced its holdings in DTE Energy by 44.1%, selling 167,096 shares during the first quarter, now holding 0.10% of the company valued at $29.3 million.
• Institutional investors own 76.06% of DTE Energy's stock, with other firms like Graypoint LLC and UMB Bank increasing their stakes during the same period.
• DTE Energy announced a quarterly dividend of $1.09 per share, with a yield of 3.2%, to be paid out on October 15th, reflecting a payout ratio of 62.73%.

Canada Pension Plan Investment Board cut its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 44.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,754 shares of the utilities provider's stock after selling 167,096 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of DTE Energy worth $29,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. WPG Advisers LLC purchased a new position in DTE Energy during the first quarter valued at $49,000. State of Wyoming bought a new stake in DTE Energy during the first quarter valued at about $398,000. BNP Paribas Financial Markets raised its holdings in DTE Energy by 33.3% during the first quarter. BNP Paribas Financial Markets now owns 510,321 shares of the utilities provider's stock valued at $70,562,000 after acquiring an additional 127,543 shares during the period. Ieq Capital LLC raised its holdings in DTE Energy by 3.3% during the first quarter. Ieq Capital LLC now owns 38,945 shares of the utilities provider's stock valued at $5,385,000 after acquiring an additional 1,249 shares during the period. Finally, FORA Capital LLC bought a new stake in DTE Energy during the first quarter valued at about $425,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DTE has been the topic of a number of recent analyst reports. Morgan Stanley set a $140.00 price target on DTE Energy and gave the company an "overweight" rating in a report on Thursday, August 21st. Barclays raised 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. JPMorgan Chase & Co. raised 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. BMO Capital Markets raised their price target on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday, August 25th. Finally, Citigroup reissued a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and an average price target of $143.38.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

DTE Energy Trading Up 0.7%

NYSE DTE traded up $0.94 during trading hours on Thursday, hitting $136.43. 1,089,793 shares of the company were exchanged, compared to its average volume of 1,369,659. The stock has a 50-day moving average price of $136.59 and a 200 day moving average price of $134.95. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The stock has a market cap of $28.32 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.71 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. Analysts forecast that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is presently 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.