Comerica Bank Cuts Position in DTE Energy Company $DTE

Key Points

• Comerica Bank reduced its holdings in DTE Energy Company by 4.4% during the first quarter, owning a total of 65,439 shares now valued at approximately $9.05 million.
• Additionally, Bessemer Group Inc. and Oppenheimer & Co. Inc. increased their positions in DTE Energy by 5.1% and 17.7% respectively during the same period.
• DTE Energy announced a $1.09 quarterly dividend to be paid on October 15, representing an annual yield of 3.1%.

Comerica Bank lessened its stake in DTE Energy Company (NYSE:DTE - Free Report) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,439 shares of the utilities provider's stock after selling 2,991 shares during the quarter. Comerica Bank's holdings in DTE Energy were worth $9,048,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in shares of DTE Energy by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after purchasing an additional 12,554 shares during the period. Northern Trust Corp raised its holdings in shares of DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock worth $253,979,000 after purchasing an additional 9,664 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after purchasing an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of DTE Energy by 0.7% in the 1st 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. Finally, GAMMA Investing LLC raised its holdings in shares of DTE Energy by 14,878.4% in the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock worth $163,655,000 after purchasing an additional 1,175,689 shares during the period. Institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DTE shares. Barclays lifted their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the company an "overweight" rating in a report on Thursday, August 21st. BMO Capital Markets boosted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday, August 25th. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a report on Monday, August 25th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.38.

DTE Energy Price Performance

Shares of DTE traded up $0.19 during mid-day trading on Monday, reaching $136.69. 951,634 shares of the stock traded hands, compared to its average volume of 1,056,595. The firm has a fifty day moving average price of $136.40 and a 200 day moving average price of $134.89. The company has a market cap of $28.37 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.42. 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 Company has a 1 year low of $115.59 and a 1 year high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The firm had revenue of $2.91 billion for 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%. As a group, equities research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio is 62.73%.

Insider Activity at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the transaction, the vice president directly owned 4,153 shares in the company, valued at $583,621.09. The trade was a 27.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

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.