Korea Investment CORP Increases Stock Holdings in DTE Energy Company $DTE

Key Points

• Korea Investment CORP increased its stake in DTE Energy by 2.2%, acquiring 3,477 additional shares, bringing its total ownership to 165,127 shares, valued at approximately $22.8 million.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with an ex-dividend date set for September 15th, resulting in an annualized yield of 3.1%.
• Analysts have a moderate buy consensus rating on DTE Energy, with an average target price of $142.29, reflecting optimism despite some recent price target adjustments.

Korea Investment CORP increased its holdings in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 165,127 shares of the utilities provider's stock after acquiring an additional 3,477 shares during the quarter. Korea Investment CORP owned about 0.08% of DTE Energy worth $22,832,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Janus Henderson Group PLC increased its position in DTE Energy by 0.5% during the fourth 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 during the period. Northern Trust Corp increased its position in DTE Energy by 0.5% during the first quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock worth $253,979,000 after acquiring an additional 9,664 shares during the period. JPMorgan Chase & Co. increased its position in DTE Energy by 57.4% during the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after acquiring an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. increased its position in DTE Energy by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock worth $181,978,000 after acquiring an additional 9,443 shares during the period. Finally, GAMMA Investing LLC increased its position in DTE Energy by 14,878.4% during the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock worth $163,655,000 after acquiring an additional 1,175,689 shares during the period. 76.06% of the stock is owned by institutional investors.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction 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 filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy Trading Down 0.4%

Shares of NYSE:DTE traded down $0.55 during mid-day trading on Tuesday, hitting $137.88. The company had a trading volume of 90,094 shares, compared to its average volume of 1,381,260. The firm has a fifty day moving average price of $135.96 and a 200 day moving average price of $134.54. DTE Energy Company has a one year low of $115.59 and a one 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 $28.62 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last posted 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). The business 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%. As a group, research analysts forecast that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on DTE. Evercore ISI raised their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Citigroup reiterated a "buy" rating and set a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday. BMO Capital Markets increased their price objective on shares of DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective 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. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and a consensus price target of $142.86.

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.