Vident Advisory LLC Boosts Stock Position in DTE Energy Company $DTE

Key Points

• Vident Advisory LLC has increased its holdings in DTE Energy Company by 82.7%, now owning 5,097 shares worth approximately $705,000.
• Several institutional investors, including Cloud Capital Management and Olde Wealth Management, have also recently purchased stakes in DTE Energy during the 1st quarter, contributing to a total institutional ownership of 76.06%.
• Analysts have generally given DTE Energy a positive outlook, with a consensus rating of "Moderate Buy" and target prices ranging from $140.00 to $151.00.

Vident Advisory LLC grew its stake in DTE Energy Company (NYSE:DTE - Free Report) by 82.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,097 shares of the utilities provider's stock after purchasing an additional 2,307 shares during the period. Vident Advisory LLC's holdings in DTE Energy were worth $705,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in DTE Energy by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider's stock worth $329,988,000 after purchasing an additional 12,554 shares in the last quarter. Northern Trust Corp grew its position in shares of DTE Energy by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider's stock valued at $253,979,000 after acquiring an additional 9,664 shares during the period. JPMorgan Chase & Co. grew its position in shares of DTE Energy by 57.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after acquiring an additional 512,567 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of DTE Energy by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider's stock valued at $181,978,000 after acquiring an additional 9,443 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of DTE Energy by 14,878.4% during the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after acquiring an additional 1,175,689 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Price Performance

Shares of NYSE DTE traded down $1.94 during midday trading on Monday, hitting $134.66. The stock had a trading volume of 1,034,575 shares, compared to its average volume of 969,597. The company has a market capitalization of $27.95 billion, a PE ratio of 19.38, a P/E/G ratio of 2.71 and a beta of 0.42. The stock has a 50 day simple moving average of $136.82 and a 200-day simple moving average of $135.12. DTE Energy Company has a 1 year low of $115.59 and a 1 year high of $142.05. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $2.91 billion during 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, sell-side analysts expect that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. DTE Energy's dividend payout ratio (DPR) is 62.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DTE shares. Barclays boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley set a $140.00 price objective on DTE Energy and gave the company an "overweight" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Citigroup restated 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. Finally, JPMorgan Chase & Co. boosted their price objective on DTE Energy from $145.00 to $147.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.38.

Insiders Place Their Bets

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of the firm'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 value of $224,848.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company 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.