DTE Energy Company $DTE Stock Holdings Trimmed by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P has reduced its stake in DTE Energy Company by 4.3%, selling 7,101 shares, which now totals approximately $22.11 million.
• DTE Energy reported an EPS of $1.36, slightly missing estimates, but exceeded revenue expectations with $2.91 billion in quarterly revenue.
• The company will pay a quarterly dividend of $1.09 per share on October 15th, representing an annualized yield of 3.1%.

Martingale Asset Management L P lessened its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 159,942 shares of the utilities provider's stock after selling 7,101 shares during the quarter. Martingale Asset Management L P owned about 0.08% of DTE Energy worth $22,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DTE. Capital Fund Management S.A. grew its stake in shares of DTE Energy by 57.4% in the 1st quarter. Capital Fund Management S.A. now owns 43,896 shares of the utilities provider's stock valued at $6,069,000 after purchasing an additional 16,013 shares during the last quarter. EntryPoint Capital LLC acquired a new position in DTE Energy in the first quarter valued at $374,000. Credit Agricole S A increased its stake in DTE Energy by 7.8% in the first quarter. Credit Agricole S A now owns 59,280 shares of the utilities provider's stock valued at $8,197,000 after purchasing an additional 4,295 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in DTE Energy by 4.5% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,455 shares of the utilities provider's stock valued at $616,000 after purchasing an additional 192 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in DTE Energy by 21.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,972 shares of the utilities provider's stock valued at $964,000 after acquiring an additional 1,234 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of DTE Energy stock traded down $0.27 on Tuesday, reaching $138.15. 152,904 shares of the company were exchanged, compared to its average volume of 1,381,568. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The company's 50-day moving average is $135.96 and its two-hundred day moving average is $134.54. The firm has a market cap of $28.68 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. As a group, research analysts expect that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price 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 objective on DTE Energy and gave the company an "overweight" rating in a research note on Thursday. BMO Capital Markets upped their price objective on DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research note on Monday. Evercore ISI upped their price objective on DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company upped their price objective on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.86.

Insider Buying and Selling at DTE Energy

In other news, VP Lisa A. Muschong sold 1,600 shares of the stock in a transaction that occurred on 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 approximately $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

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.