DTE Energy Company $DTE Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC has acquired an additional 11,501 shares of DTE Energy Company, increasing its stake by 3.5%, bringing its total ownership to 336,467 shares valued at approximately $46.5 million.
• Several other hedge funds have also increased their stakes in DTE Energy, with JPMorgan Chase & Co. boosting its position by 57.4% during the first quarter.
• DTE Energy announced a quarterly dividend of $1.09 per share, set for payment on October 15th, representing an annualized yield of 3.2%.

NewEdge Advisors LLC grew its stake in DTE Energy Company (NYSE:DTE - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 336,467 shares of the utilities provider's stock after purchasing an additional 11,501 shares during the quarter. NewEdge Advisors LLC owned approximately 0.16% of DTE Energy worth $46,523,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DTE. Aptus Capital Advisors LLC raised its stake in shares of DTE Energy by 10.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 2,923 shares of the utilities provider's stock valued at $355,000 after purchasing an additional 266 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of DTE Energy by 60.8% in the 4th quarter. BNP Paribas Financial Markets now owns 382,778 shares of the utilities provider's stock valued at $46,220,000 after purchasing an additional 144,780 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of DTE Energy by 57.1% in the 4th quarter. Captrust Financial Advisors now owns 17,339 shares of the utilities provider's stock valued at $2,094,000 after purchasing an additional 6,301 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of DTE Energy by 2.1% in the 4th quarter. Cetera Investment Advisers now owns 30,038 shares of the utilities provider's stock valued at $3,627,000 after purchasing an additional 622 shares in the last quarter. Finally, Crestline Management LP acquired a new stake in shares of DTE Energy in the 4th quarter valued at about $2,415,000. Institutional investors and hedge funds own 76.06% of the company's stock.

Wall Street Analyst Weigh In

DTE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays increased 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 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, August 25th. Finally, Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $143.38.

DTE Energy Stock Performance

NYSE DTE traded up $0.03 on Friday, hitting $136.44. The stock had a trading volume of 975,961 shares, compared to its average volume of 969,597. DTE Energy Company has a one year low of $115.59 and a one year 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 stock has a market cap of $28.32 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 2.71 and a beta of 0.42. The company's 50-day moving average is $136.78 and its two-hundred day moving average is $135.10.

DTE Energy (NYSE:DTE - Get Free Report) last posted its 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 firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business 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 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 (DPR) is currently 62.73%.

Insider Buying and Selling

In other DTE Energy 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

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.