Price T Rowe Associates Inc. MD Purchases 9,469 Shares of DTE Energy Company $DTE

Key Points

• Price T Rowe Associates Inc. MD increased its stake in DTE Energy by 3.1%, acquiring an additional 9,469 shares to own a total of 315,992 shares valued at approximately $43.7 million.
• Institutional ownership at DTE Energy is significant, with hedge funds and institutional investors controlling 76.06% of the company's stock.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, reflecting an annualized dividend yield of 3.1% and a payout ratio of 62.73%.

Price T Rowe Associates Inc. MD grew its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 315,992 shares of the utilities provider's stock after buying an additional 9,469 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.15% of DTE Energy worth $43,693,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. lifted its stake in DTE Energy by 5.1% in the first quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after purchasing an additional 107 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in DTE Energy by 17.7% in the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after purchasing an additional 318 shares during the last quarter. Fifth Third Bancorp lifted its stake in DTE Energy by 3.5% in the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after purchasing an additional 264 shares during the last quarter. GAMMA Investing LLC lifted its stake in DTE Energy by 8.3% in the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock valued at $1,184,000 after purchasing an additional 658 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in DTE Energy in the first quarter valued at approximately $282,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DTE shares. JPMorgan Chase & Co. upped their price objective on 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 boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. 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 report on Friday, May 23rd. Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a research report on Monday. Finally, Barclays increased their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.86.

DTE Energy Trading Up 0.3%

DTE Energy stock opened at $138.48 on Thursday. The stock has a market cap of $28.75 billion, a P/E ratio of 19.93, a PEG ratio of 2.74 and a beta of 0.42. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05. The firm's fifty day moving average price is $136.21 and its 200-day moving average price is $134.59. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities 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. Stockholders of record on Monday, September 15th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.1%. DTE Energy's dividend payout ratio is presently 62.73%.

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 on Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the transaction, the vice president owned 4,153 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

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.

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