Voleon Capital Management LP Buys Shares of 12,447 DTE Energy Company $DTE

Key Points

• Voleon Capital Management has acquired a new position in DTE Energy, purchasing 12,447 shares valued at approximately $1.72 million.
• DTE Energy's stock recently reported a 1.4% decline, with a current market capitalization of $27.95 billion and a P/E ratio of 19.38.
• The company has declared a quarterly dividend of $1.09, with an annualized yield of 3.2% and a dividend payout ratio of 62.73%.

Voleon Capital Management LP acquired a new position in shares of DTE Energy Company (NYSE:DTE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,447 shares of the utilities provider's stock, valued at approximately $1,721,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DTE. Captrust Financial Advisors grew its position in shares of DTE Energy by 57.1% during the fourth quarter. Captrust Financial Advisors now owns 17,339 shares of the utilities provider's stock worth $2,094,000 after buying an additional 6,301 shares in the last quarter. Cetera Investment Advisers lifted its stake in DTE Energy by 2.1% during the fourth quarter. Cetera Investment Advisers now owns 30,038 shares of the utilities provider's stock worth $3,627,000 after purchasing an additional 622 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in DTE Energy by 1,064.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,671 shares of the utilities provider's stock worth $11,069,000 after purchasing an additional 83,799 shares during the last quarter. Ethic Inc. purchased a new stake in DTE Energy during the fourth quarter worth approximately $784,000. Finally, Focus Partners Wealth lifted its stake in DTE Energy by 13.4% during the fourth quarter. Focus Partners Wealth now owns 175,530 shares of the utilities provider's stock worth $21,212,000 after purchasing an additional 20,791 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Lisa A. Muschong sold 1,600 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the transaction, the vice president owned 4,153 shares of the company's stock, valued at $583,621.09. This represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on DTE Energy from $140.00 to $144.00 and gave the stock a "market perform" rating in a research note on Monday, August 25th. Morgan Stanley set a $140.00 target price on DTE Energy and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Barclays boosted their target price on DTE Energy from $136.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded DTE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, Citigroup reiterated a "buy" rating and issued a $151.00 price objective (up previously from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Seven 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 a consensus rating of "Moderate Buy" and an average target price of $144.25.

DTE Energy Stock Performance

Shares of NYSE:DTE traded down $0.02 during trading on Friday, reaching $136.74. The company had a trading volume of 940,281 shares, compared to its average volume of 907,431. The firm has a market capitalization of $28.39 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.42. 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 stock's fifty day moving average price is $137.23 and its 200 day moving average price is $135.18. DTE Energy Company has a fifty-two week low of $115.59 and a fifty-two week high of $142.05.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a net margin of 10.16% and a return on equity of 12.72%. As a group, equities research analysts predict that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

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.