JPMorgan Chase & Co. Buys 512,567 Shares of DTE Energy Company (NYSE:DTE)

Key Points

• JPMorgan Chase & Co. increased its stake in DTE Energy by 57.4% during the first quarter, now owning 1,405,516 shares valued at approximately $194.34 million.
• DTE Energy announced a quarterly dividend of $1.09 per share, with a dividend yield of 3.1%, to be paid on October 15th.
• The company's most recent quarterly earnings fell slightly short of estimates, reporting an EPS of $1.36 against a consensus of $1.37.

JPMorgan Chase & Co. lifted its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 57.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,405,516 shares of the utilities provider's stock after acquiring an additional 512,567 shares during the period. JPMorgan Chase & Co. owned approximately 0.68% of DTE Energy worth $194,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Cloud Capital Management LLC purchased a new position in DTE Energy in the 1st quarter worth $25,000. Olde Wealth Management LLC purchased a new position in shares of DTE Energy during the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DTE Energy during the first quarter valued at about $28,000. N.E.W. Advisory Services LLC bought a new stake in DTE Energy during the first quarter worth about $31,000. Finally, Mattson Financial Services LLC bought a new stake in DTE Energy during the fourth quarter worth about $38,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Performance

DTE stock traded down $1.05 during midday trading on Friday, reaching $138.88. 1,296,533 shares of the company's stock traded hands, compared to its average volume of 1,361,552. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $141.54. The stock has a market cap of $28.83 billion, a P/E ratio of 19.98, a PEG ratio of 2.76 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The stock's 50-day moving average is $135.39 and its 200 day moving average is $133.69.

DTE Energy (NYSE:DTE - Get Free Report) last announced its 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). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. As a group, analysts anticipate that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.1%. DTE Energy's dividend payout ratio is 62.73%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DTE shares. Barclays boosted their price objective 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. 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. Wells Fargo & Company upped their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.29.

Insider Activity

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.