DTE Energy Company $DTE Shares Bought by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC increased its stake in DTE Energy by 4.0%, owning approximately 718,161 shares valued at $99.3 million, making it the firm's 15th largest position.
• DTE Energy reported earnings of $1.36 per share, slightly below expectations, with revenue of $2.91 billion surpassing analyst estimates of $2.67 billion.
• The company announced a quarterly dividend of $1.09 per share, reflecting a yield of 3.2%, with a payout ratio of 62.73% as of its latest filing.

Energy Income Partners LLC increased its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 718,161 shares of the utilities provider's stock after purchasing an additional 27,682 shares during the period. DTE Energy accounts for approximately 1.9% of Energy Income Partners LLC's portfolio, making the stock its 15th largest position. Energy Income Partners LLC owned 0.35% of DTE Energy worth $99,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTE. GAMMA Investing LLC lifted its position in DTE Energy by 14,878.4% in the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after acquiring an additional 1,175,689 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in DTE Energy by 1,794.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after acquiring an additional 871,978 shares during the last quarter. JPMorgan Chase & Co. lifted its position in DTE Energy by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after acquiring an additional 512,567 shares during the last quarter. Nuveen LLC acquired a new stake in shares of DTE Energy during the first quarter worth about $67,315,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of DTE Energy by 44.7% during the first quarter. The Manufacturers Life Insurance Company now owns 721,209 shares of the utilities provider's stock worth $99,722,000 after buying an additional 222,894 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DTE Energy

In related 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 transaction of $224,848.00. Following the sale, the vice president owned 4,153 shares in the company, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on DTE. Barclays increased their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Morgan Stanley set a $140.00 target price on shares of DTE Energy and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 25th. Citigroup restated a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Eight investment 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 price target of $143.38.

DTE Energy Price Performance

DTE Energy stock traded up $0.94 during mid-day trading on Thursday, reaching $136.43. The company had a trading volume of 1,086,787 shares, compared to its average volume of 1,366,926. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The company has a market capitalization of $28.32 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.71 and a beta of 0.42. The stock's 50-day simple moving average is $136.59 and its 200-day simple moving average is $134.95.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data 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). 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 analysts' expectations of $2.67 billion. On average, equities analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

DTE Energy 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.