Northern Trust Corp Raises Stake in DTE Energy Company $DTE

Key Points

• Northern Trust Corp has increased its stake in DTE Energy Company by 0.5%, owning approximately 1.84 million shares valued at $253.98 million as of the latest SEC filing.
• Several institutional investors, including Bessemer Group Inc. and Oppenheimer & Co. Inc., have also increased their holdings in DTE Energy, reflecting strong interest from major financial entities.
• DTE Energy announced a quarterly dividend of $1.09, with a yield of 3.1%, which will be paid on October 15th to investors of record.

Northern Trust Corp increased its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,836,832 shares of the utilities provider's stock after acquiring an additional 9,664 shares during the quarter. Northern Trust Corp owned about 0.89% of DTE Energy worth $253,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of DTE. GAMMA Investing LLC increased its stake in DTE Energy by 14,878.4% during the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after purchasing an additional 1,175,689 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in DTE Energy by 1,794.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after purchasing an additional 871,978 shares in the last quarter. AQR Capital Management LLC increased its stake in DTE Energy by 750.0% during the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after purchasing an additional 851,169 shares in the last quarter. JPMorgan Chase & Co. increased its stake in DTE Energy by 57.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Finally, Nuveen LLC bought a new stake in DTE Energy during the 1st quarter valued at about $67,315,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE traded down $1.20 on Monday, reaching $138.74. The company's stock had a trading volume of 488,080 shares, compared to its average volume of 1,386,076. 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 stock has a market capitalization of $28.80 billion, a P/E ratio of 19.96, a PEG ratio of 2.78 and a beta of 0.42. The stock's 50 day simple moving average is $135.85 and its two-hundred day simple moving average is $134.43. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $142.05.

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

DTE Energy Announces Dividend

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

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction that occurred on Thursday, August 14th. The shares were 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. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DTE shares. Morgan Stanley reduced their price objective on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective 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. Evercore ISI raised their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, BMO Capital Markets raised their price target on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a report on Monday. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.43.

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.