DTE Energy Company $DTE Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in DTE Energy by 7.8%, now holding shares worth $8.2 million, while institutional investors collectively own 76.06% of the stock.
• DTE Energy reported quarterly earnings of $1.36 per share, slightly missing analysts' expectations, but exceeding revenue forecasts with $2.91 billion.
• The company announced a quarterly dividend of $1.09, translating to an annualized yield of 3.1%, with a dividend payout ratio of 62.73%.

Credit Agricole S A boosted its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 7.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 59,280 shares of the utilities provider's stock after purchasing an additional 4,295 shares during the period. Credit Agricole S A's holdings in DTE Energy were worth $8,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of DTE Energy by 14,878.4% during the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock worth $163,655,000 after acquiring an additional 1,175,689 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock worth $111,159,000 after acquiring an additional 871,978 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock worth $116,482,000 after acquiring an additional 851,169 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of DTE Energy by 57.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after acquiring an additional 512,567 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of DTE Energy during the 1st quarter worth about $67,315,000. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Trading Down 0.2%

Shares of DTE Energy stock opened at $140.2490 on Friday. The firm has a market capitalization of $29.11 billion, a PE ratio of 20.18, a P/E/G ratio of 2.79 and a beta of 0.42. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The firm's 50-day moving average price is $135.75 and its 200 day moving average price is $134.13. 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 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The company 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, sell-side analysts predict that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm 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 $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is 62.73%.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president directly 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 document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on DTE. Morgan Stanley lowered their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Wall Street Zen raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Citigroup reissued a "buy" rating and set a $151.00 target price (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Wells Fargo & Company raised their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.29.

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.

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