DTE Energy Company $DTE Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has reduced its holdings in DTE Energy Company by 35.3%, now owning 55,446 shares worth approximately $7.67 million.
• Several institutional investors, such as Capital World Investors and GAMMA Investing LLC, have significantly increased their positions in DTE Energy, with increases of 123.2% and 14,878.4% respectively.
• DTE Energy recently announced a quarterly dividend of $1.09 per share, with a dividend yield of 3.1%, signaling a stable return for investors.

Public Sector Pension Investment Board lessened its holdings in DTE Energy Company (NYSE:DTE - Free Report) by 35.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,446 shares of the utilities provider's stock after selling 30,247 shares during the quarter. Public Sector Pension Investment Board's holdings in DTE Energy were worth $7,667,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DTE. Wells Fargo & Company upped their target price on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $151.00 target price (up from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays upped their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Evercore ISI upped their target price on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, DTE Energy has an average rating of "Moderate Buy" and a consensus target price of $142.29.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $583,621.09. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

DTE Energy Stock Performance

Shares of DTE stock traded down $1.37 during mid-day trading on Monday, reaching $137.55. The stock had a trading volume of 342,260 shares, compared to its average volume of 1,397,601. The business's fifty day moving average is $135.39 and its 200-day moving average is $133.79. 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 firm has a market cap of $28.55 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.76 and a beta of 0.42. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $141.54.

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

DTE Energy Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is 62.73%.

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.