Raymond James Financial Inc. Raises Holdings in DTE Energy Company $DTE

Key Points

• Raymond James Financial Inc. increased its holdings in DTE Energy by 3.0%, acquiring an additional 10,575 shares, bringing their total ownership to about 367,201 shares valued at approximately $50.77 million.
• Several hedge funds, including JPMorgan Chase & Co. which raised its position by 57.4%, have significantly increased their investments in DTE Energy, which is currently 76.06% owned by institutional investors.
• DTE Energy announced a quarterly dividend of $1.09, representing an annualized dividend yield of 3.1%, with a payout ratio of 62.73%.

Raymond James Financial Inc. raised its position in shares of DTE Energy Company (NYSE:DTE - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 367,201 shares of the utilities provider's stock after purchasing an additional 10,575 shares during the period. Raymond James Financial Inc. owned approximately 0.18% of DTE Energy worth $50,773,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DTE. GAMMA Investing LLC raised its position in DTE Energy by 14,878.4% during the first 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. raised its position in DTE Energy by 1,794.5% during the fourth 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 raised its stake in shares of DTE Energy by 750.0% during the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock worth $116,482,000 after acquiring an additional 851,169 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DTE Energy by 57.4% during the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock worth $194,341,000 after acquiring an additional 512,567 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of DTE Energy during the first quarter worth approximately $67,315,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Trading Down 0.0%

DTE Energy stock traded down $0.02 during mid-day trading on Tuesday, reaching $138.40. 265,363 shares of the company traded hands, compared to its average volume of 1,382,230. 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 firm's 50 day moving average price is $135.96 and its 200 day moving average price is $134.54. The firm has a market capitalization of $28.73 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.78 and a beta of 0.42. DTE Energy Company has a 52-week low of $115.59 and a 52-week high of $142.05.

DTE Energy (NYSE:DTE - Get Free Report) last issued 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 company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. On average, analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. DTE Energy's dividend payout ratio is presently 62.73%.

Wall Street Analysts Forecast Growth

DTE has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wells Fargo & Company lifted their price target on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Barclays lifted their price objective on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded DTE Energy from a "hold" rating to a "sell" rating in a report on Monday. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.86.

Insider Buying and Selling at DTE Energy

In related 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 sale, the vice president owned 4,153 shares in the company, valued at $583,621.09. This represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is 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.