DTE Energy Company (NYSE:DTE) Stock Position Raised by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in DTE Energy Company by 35.8%, owning 296,398 shares worth approximately $40.98 million after purchasing an additional 78,181 shares in the first quarter.
• DTE Energy shares recently reported a miss in quarterly earnings with an EPS of $1.36, falling short of analysts' expectations of $1.37, although revenue exceeded forecasts at $2.91 billion.
• The company has declared a quarterly dividend of $1.09 to be paid on October 15, representing an annualized yield of 3.1%.

Citigroup Inc. increased its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 35.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 296,398 shares of the utilities provider's stock after purchasing an additional 78,181 shares during the period. Citigroup Inc. owned 0.14% of DTE Energy worth $40,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Graypoint LLC raised its stake in shares of DTE Energy by 3.8% in the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock valued at $279,000 after purchasing an additional 74 shares in the last quarter. UMB Bank n.a. raised its stake in shares of DTE Energy by 0.9% in the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of DTE Energy by 2.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR grew its position in shares of DTE Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock valued at $630,000 after buying an additional 81 shares during the last quarter. Finally, First American Bank grew its position in shares of DTE Energy by 0.7% during the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider's stock valued at $1,701,000 after buying an additional 85 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE stock traded down $1.42 on Thursday, hitting $140.07. 818,821 shares of the company's stock traded hands, compared to its average volume of 1,401,117. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $141.54. The stock has a market cap of $29.08 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.78 and a beta of 0.42. The stock has a fifty day moving average of $135.14 and a 200-day moving average of $133.32. 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 issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate 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, analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company upped their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report 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 Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $141.53.

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.