Jacobs Levy Equity Management Inc. Grows Position in DTE Energy Company $DTE

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in DTE Energy by 250.1%, owning 32,199 shares valued at approximately $4.45 million.
• DTE Energy reported an earnings per share (EPS) of $1.36 for the last quarter, slightly below analysts' expectations, while revenue hit $2.91 billion.
• The company announced a quarterly dividend of $1.09, resulting in an annualized yield of 3.2%, payable on October 15th.

Jacobs Levy Equity Management Inc. grew its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 250.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,199 shares of the utilities provider's stock after acquiring an additional 23,001 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in DTE Energy were worth $4,452,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in DTE Energy by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after acquiring an additional 12,554 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of DTE Energy by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock valued at $253,979,000 after buying an additional 9,664 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of DTE Energy by 57.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after buying an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of DTE Energy by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock valued at $181,978,000 after buying an additional 9,443 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of DTE Energy by 14,878.4% in the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after buying an additional 1,175,689 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on DTE shares. Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Citigroup reiterated a "buy" rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays lifted 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 report on Tuesday, July 15th. BMO Capital Markets lifted their target price on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. boosted 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. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.25.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction that occurred on 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 directly owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of DTE traded down $0.02 during midday trading on Friday, reaching $136.74. 940,279 shares of the stock were exchanged, compared to its average volume of 1,353,405. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $142.05. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The company has a market cap of $28.39 billion, a P/E ratio of 19.67, a PEG ratio of 2.69 and a beta of 0.42. The stock's 50 day simple moving average is $137.11 and its 200 day simple moving average is $135.16.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS 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 analyst estimates 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 expect that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's payout ratio 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.