DTE Energy (NYSE:DTE) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,159,336 shares of the utilities provider's stock after purchasing an additional 25,786 shares during the quarter. Royal Bank of Canada owned about 0.56% of DTE Energy worth $139,990,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DTE. Capital World Investors lifted its position in shares of DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock worth $823,905,000 after purchasing an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of DTE Energy by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock worth $3,053,330,000 after purchasing an additional 879,670 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of DTE Energy by 1,794.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock worth $111,159,000 after purchasing an additional 871,978 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of DTE Energy by 750.0% during the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock worth $116,482,000 after purchasing an additional 851,169 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of DTE Energy by 50.2% during the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock worth $297,358,000 after buying an additional 822,854 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Up 1.3%

DTE Energy stock traded up $1.79 during mid-day trading on Friday, hitting $136.41. The company had a trading volume of 1,069,005 shares, compared to its average volume of 1,249,378. The stock has a market cap of $28.31 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.41 and a beta of 0.47. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average of $134.80 and a 200 day moving average of $127.78.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.98 by $0.12. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same period in the prior year, the firm posted $1.67 earnings per share. On average, sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.20%. DTE Energy's dividend payout ratio (DPR) is presently 58.92%.

Insider Transactions at DTE Energy

In other news, SVP Joann Chavez sold 7,062 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

DTE has been the topic of a number of recent research reports. Morgan Stanley cut 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. BMO Capital Markets upped their target price on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research note on Monday, April 21st. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Evercore ISI upped their target price on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Citigroup upped their target price on shares of DTE Energy from $142.00 to $151.00 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.93.

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.