The Manufacturers Life Insurance Company Buys 222,894 Shares of DTE Energy Company $DTE

Key Points

• The Manufacturers Life Insurance Company increased its stake in DTE Energy Company by 44.7%, acquiring an additional 222,894 shares in the first quarter, bringing its total ownership to approximately $99.7 million.
• A number of brokerages have provided recent ratings upgrades for DTE Energy, with Citigroup and Wells Fargo raising their price targets to $151.00 and $154.00, respectively.
• DTE Energy announced a quarterly dividend of $1.09 per share, set to be paid on October 15th, representing an annualized yield of 3.2%.

The Manufacturers Life Insurance Company lifted its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 44.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 721,209 shares of the utilities provider's stock after buying an additional 222,894 shares during the period. The Manufacturers Life Insurance Company owned about 0.35% of DTE Energy worth $99,722,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Graypoint LLC boosted its holdings 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 valued at $279,000 after acquiring an additional 74 shares in the last quarter. UMB Bank n.a. raised its position in DTE Energy by 0.9% in the first quarter. UMB Bank n.a. now owns 9,041 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 78 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of DTE Energy by 2.0% during the first quarter. OneDigital Investment Advisors LLC now owns 3,918 shares of the utilities provider's stock valued at $542,000 after purchasing an additional 78 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of DTE Energy by 1.8% during the first quarter. Stephens Inc. AR now owns 4,555 shares of the utilities provider's stock worth $630,000 after purchasing an additional 81 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of DTE Energy by 1.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,721 shares of the utilities provider's stock worth $929,000 after purchasing an additional 82 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTE. 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. Wells Fargo & Company upped their price target on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. 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 report on Tuesday, July 15th. Wall Street Zen cut shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Monday, August 25th. Finally, Barclays increased their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $143.38.

DTE Energy Trading Up 0.1%

NYSE:DTE opened at $136.69 on Friday. DTE Energy Company has a 52 week low of $115.59 and a 52 week high of $142.05. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.57 and a current ratio of 0.94. The firm's fifty day moving average is $136.40 and its 200-day moving average is $134.76. The firm has a market cap of $28.37 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.71 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results 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 for 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 analysts expect that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy's payout ratio is currently 62.73%.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,600 shares of the company'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 owned 4,153 shares in the company, valued at $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 is available at the SEC website. 0.33% of the stock is currently owned by 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.

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