Royal Bank of Canada Purchases 13,884 Shares of DTE Energy Company $DTE

Key Points

• Royal Bank of Canada increased its stake in DTE Energy Company by 1.2% in the first quarter, owning approximately $162.22 million in shares.
• Multiple institutional investors have increased their holdings in DTE Energy, with GAMMA Investing LLC raising its stake by an astounding 14,878.4% during the same period.
• DTE Energy announced a quarterly dividend of $1.09 per share, representing an annualized dividend yield of 3.2%, payable on October 15th.

Royal Bank of Canada grew its position in DTE Energy Company (NYSE:DTE - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,173,220 shares of the utilities provider's stock after buying an additional 13,884 shares during the period. Royal Bank of Canada owned approximately 0.57% of DTE Energy worth $162,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in shares of DTE Energy in the 1st quarter valued at $25,000. Olde Wealth Management LLC acquired a new position in shares of DTE Energy in the 1st quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of DTE Energy in the 1st quarter valued at $28,000. SouthState Corp acquired a new position in shares of DTE Energy in the 1st quarter valued at $29,000. Finally, N.E.W. Advisory Services LLC bought a new stake in DTE Energy in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Up 0.0%

NYSE:DTE traded up $0.03 on Friday, hitting $136.44. 975,961 shares of the company's stock were exchanged, compared to its average volume of 988,229. The firm has a 50-day moving average price of $136.78 and a 200-day moving average price of $135.08. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The company has a market cap of $28.32 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.71 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly 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 business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given 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 3.2%. DTE Energy's payout ratio is 62.73%.

Analyst Upgrades and Downgrades

DTE has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of DTE Energy from $140.00 to $144.00 and gave the company a "market perform" rating in a research report on Monday, August 25th. Barclays boosted their price objective on shares of DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup reaffirmed a "buy" rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley set a $140.00 price objective on shares of DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.38.

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 dated Thursday, August 14th. The shares were sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president directly owned 4,153 shares of the company's stock, valued at approximately $583,621.09. This represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

About DTE Energy

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.