DTE Energy Company $DTE Stock Position Reduced by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in DTE Energy by 12.6%, ending the first quarter with approximately 1.33 million shares valued at $184 million.
• A number of institutional investors have recently entered the DTE Energy market, contributing to a 76.06% ownership concentration among such investors in the company's stock.
• DTE Energy announced a quarterly dividend of $1.09 per share, with an upcoming payout date of October 15, resulting in an annualized dividend yield of 3.1%.

T. Rowe Price Investment Management Inc. trimmed its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 12.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,332,392 shares of the utilities provider's stock after selling 192,854 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.64% of DTE Energy worth $184,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Graypoint LLC raised its position in shares of DTE Energy by 3.8% during the 1st quarter. Graypoint LLC now owns 2,021 shares of the utilities provider's stock worth $279,000 after buying an additional 74 shares in the last quarter. UMB Bank n.a. raised its position in shares of DTE Energy by 0.9% during the 1st quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock worth $1,250,000 after buying an additional 78 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of DTE Energy by 2.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock worth $542,000 after buying an additional 78 shares in the last quarter. Stephens Inc. AR raised its position in shares of DTE Energy by 1.8% during the 1st quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after buying an additional 81 shares in the last quarter. Finally, First American Bank raised its position in shares of DTE Energy by 0.7% during the 1st quarter. First American Bank now owns 12,304 shares of the utilities provider's stock worth $1,701,000 after buying an additional 85 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Lisa A. Muschong sold 1,600 shares of the business's 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 directly owned 4,153 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DTE. Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays boosted their target price on shares of DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, 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. 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.43.

DTE Energy Trading Down 1.1%

Shares of DTE stock traded down $1.5340 during trading hours on Monday, reaching $138.4060. 543,584 shares of the stock traded hands, compared to its average volume of 1,386,377. DTE Energy Company has a 1-year low of $115.59 and a 1-year high of $142.05. The business has a fifty day moving average price of $135.85 and a 200 day moving average price of $134.43. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $28.73 billion, a PE ratio of 19.91, a PEG ratio of 2.78 and a beta of 0.42.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, equities research analysts forecast that DTE Energy Company will post 7.18 EPS for the current 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 dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. DTE Energy's payout ratio is currently 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.