Capital Fund Management S.A. Acquires 16,013 Shares of DTE Energy Company $DTE

Key Points

• Capital Fund Management S.A. increased its stake in DTE Energy by 57.4%, purchasing an additional 16,013 shares, bringing its total holdings to 43,896 shares valued at approximately $6.07 million.
• DTE Energy recently declared a quarterly dividend of $1.09, yielding about 3.1%, with the ex-dividend date set for September 15.
• Analysts have varying price targets for DTE Energy, with Wells Fargo raising its target to $154.00 and Citigroup maintaining a buy rating with a target of $151.00.

Capital Fund Management S.A. grew its stake in DTE Energy Company (NYSE:DTE - Free Report) by 57.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,896 shares of the utilities provider's stock after buying an additional 16,013 shares during the period. Capital Fund Management S.A.'s holdings in DTE Energy were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in shares of DTE Energy in the first quarter valued at about $374,000. Credit Agricole S A increased its stake in shares of DTE Energy by 7.8% in the first quarter. Credit Agricole S A now owns 59,280 shares of the utilities provider's stock valued at $8,197,000 after buying an additional 4,295 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of DTE Energy by 4.5% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,455 shares of the utilities provider's stock valued at $616,000 after buying an additional 192 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of DTE Energy by 21.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,972 shares of the utilities provider's stock valued at $964,000 after buying an additional 1,234 shares during the period. Finally, HITE Hedge Asset Management LLC increased its stake in shares of DTE Energy by 2.3% in the first quarter. HITE Hedge Asset Management LLC now owns 987,056 shares of the utilities provider's stock valued at $136,480,000 after buying an additional 22,137 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DTE. JPMorgan Chase & Co. increased their price target on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen cut DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday. Morgan Stanley set a $140.00 target price on DTE Energy and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Citigroup reaffirmed a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Finally, Wells Fargo & Company raised their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $142.86.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

DTE Energy Stock Up 0.3%

DTE Energy stock traded up $0.37 during mid-day trading on Wednesday, reaching $138.47. The stock had a trading volume of 439,506 shares, compared to its average volume of 1,381,064. 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 quick ratio of 0.57 and a current ratio of 0.94. The stock's 50-day simple moving average is $136.08 and its 200-day simple moving average is $134.57. The firm has a market capitalization of $28.74 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last posted its 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 company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, sell-side analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently announced 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. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is currently 62.73%.

About DTE Energy

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.