DTE Energy Company (NYSE:DTE) Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC has reduced its stake in DTE Energy by 14%, selling 162,606 shares, and now holds about 1,000,591 shares valued at approximately $138.25 million.
• DTE Energy recently reported earnings of $1.36 per share, missing estimates, but surpassed revenue expectations with $2.91 billion reported for the quarter.
• The company is set to pay a quarterly dividend of $1.09 on October 15th, with a current annualized dividend yield of 3.1%.

Neuberger Berman Group LLC lowered its position in DTE Energy Company (NYSE:DTE - Free Report) by 14.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,000,591 shares of the utilities provider's stock after selling 162,606 shares during the period. Neuberger Berman Group LLC owned 0.48% of DTE Energy worth $138,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Graypoint LLC grew its position in shares of DTE Energy by 3.8% during the first quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after buying an additional 74 shares in the last quarter. UMB Bank n.a. grew its position in shares of DTE Energy by 0.9% during the first quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock worth $1,250,000 after buying an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of DTE Energy by 2.0% during the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after buying an additional 78 shares in the last quarter. Stephens Inc. AR lifted its stake in DTE Energy by 1.8% during the first 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, First American Bank lifted its stake in DTE Energy by 0.7% during the first quarter. First American Bank now owns 12,304 shares of the utilities provider's stock worth $1,701,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

Insiders Place Their Bets

In related news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction 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 transaction, the vice president 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 legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DTE shares. JPMorgan Chase & Co. boosted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Barclays boosted their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup restated a "buy" rating and set a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Evercore ISI boosted their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $142.29.

DTE Energy Stock Performance

Shares of DTE Energy stock traded down $1.05 during trading hours on Friday, hitting $138.88. 1,296,533 shares of the company were exchanged, compared to its average volume of 1,361,552. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $141.54. 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 business has a 50-day moving average of $135.29 and a 200-day moving average of $133.44. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.78 and a beta of 0.42.

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

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio is currently 62.73%.

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.