FORA Capital LLC Buys New Shares in DTE Energy Company $DTE

Key Points

• FORA Capital LLC acquired a new stake in DTE Energy Company, purchasing 3,074 shares valued at approximately $425,000.
• Despite positive quarterly revenue of $2.91 billion, DTE Energy missed earnings expectations, reporting $1.36 EPS against analysts' estimates of $1.37.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with a dividend yield of 3.2%, scheduled for payment on October 15th.

FORA Capital LLC bought a new stake in DTE Energy Company (NYSE:DTE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,074 shares of the utilities provider's stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Graypoint LLC increased its stake in shares of DTE Energy by 3.8% in the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock valued at $279,000 after buying an additional 74 shares during the period. UMB Bank n.a. boosted its position in shares of DTE Energy by 0.9% in the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock worth $1,250,000 after purchasing an additional 78 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of DTE Energy by 2.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after purchasing an additional 78 shares during the last quarter. Stephens Inc. AR boosted its position in shares of DTE Energy by 1.8% in the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after purchasing an additional 81 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of DTE Energy by 1.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,721 shares of the utilities provider's stock worth $929,000 after purchasing an additional 82 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Up 0.1%

Shares of DTE traded up $0.19 during midday trading on Monday, hitting $136.69. The stock had a trading volume of 951,634 shares, compared to its average volume of 1,056,595. The company has a 50 day simple moving average of $136.40 and a two-hundred day simple moving average of $134.89. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The firm 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 debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. DTE Energy's dividend payout ratio (DPR) is currently 62.73%.

Analyst Upgrades and Downgrades

DTE has been the topic of several recent research reports. Wall Street Zen lowered 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 target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Morgan Stanley set a $140.00 price target on DTE Energy and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Finally, BMO Capital Markets raised their price target on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, DTE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $143.38.

Insider Activity

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value 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 document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate 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.