DRW Securities LLC Sells 55,183 Shares of DTE Energy Company $DTE

Key Points

• DRW Securities LLC significantly reduced its stake in DTE Energy Company by 75.2%, owning 18,217 shares after selling 55,183 shares; their holdings were worth approximately $2.52 million at the end of the last reporting period.
• DTE Energy announced a quarterly dividend of $1.09 per share, set to be paid on October 15th, reflecting an annualized dividend of $4.36 and a yield of 3.2%.
• Several hedge funds entered new positions in DTE Energy this quarter, collectively increasing institutional ownership of the stock to 76.06%.

DRW Securities LLC cut its stake in DTE Energy Company (NYSE:DTE - Free Report) by 75.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,217 shares of the utilities provider's stock after selling 55,183 shares during the quarter. DRW Securities LLC's holdings in DTE Energy were worth $2,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its position in DTE Energy by 12.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,340 shares of the utilities provider's stock worth $524,000 after acquiring an additional 491 shares during the last quarter. Beacon Pointe Advisors LLC boosted its stake in shares of DTE Energy by 18.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 7,986 shares of the utilities provider's stock worth $964,000 after acquiring an additional 1,255 shares during the period. Comerica Bank boosted its stake in shares of DTE Energy by 4.1% during the 4th quarter. Comerica Bank now owns 68,430 shares of the utilities provider's stock worth $8,263,000 after acquiring an additional 2,703 shares during the period. Meiji Yasuda Life Insurance Co boosted its stake in shares of DTE Energy by 38.9% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 5,467 shares of the utilities provider's stock worth $660,000 after acquiring an additional 1,530 shares during the period. Finally, Gallagher Fiduciary Advisors LLC grew its stake in DTE Energy by 19.0% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 3,330 shares of the utilities provider's stock valued at $402,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Price Performance

Shares of DTE Energy stock traded down $0.20 during trading on Wednesday, reaching $135.45. 781,092 shares of the company's stock were exchanged, compared to its average volume of 986,512. The firm's 50-day moving average price is $136.50 and its 200 day moving average price is $134.94. The company has a market cap of $28.12 billion, a P/E ratio of 19.01, a PEG ratio of 2.71 and a beta of 0.42. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. 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 issued its 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). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. As a group, research analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is presently 62.73%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup restated a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted 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. Morgan Stanley set a $140.00 price objective on DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 25th. Finally, Barclays raised their price target on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.38.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the firm's 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 owned 4,153 shares of the company's stock, valued at $583,621.09. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

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.