DTE Energy (NYSE:DTE) Vice Chairman Sells $678,550.00 in Stock

DTE Energy Company (NYSE:DTE) Vice Chairman Trevor Lauer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the transaction, the insider owned 73,122 shares in the company, valued at approximately $9,923,386.62. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

DTE Energy Price Performance

DTE Energy stock traded up $0.90 during mid-day trading on Thursday, hitting $136.95. 218,015 shares of the company traded hands, compared to its average volume of 1,411,241. DTE Energy Company has a one year low of $126.23 and a one year high of $155.74. The stock has a market cap of $28.50 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.53 and a current ratio of 0.80. The stock has a fifty day moving average price of $144.18 and a 200-day moving average price of $145.30.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.18. DTE Energy had a net margin of 8.00% and a return on equity of 12.19%. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the company posted $1.36 EPS. On average, equities analysts predict that DTE Energy Company will post 7.71 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be given a dividend of $1.165 per share. The ex-dividend date is Monday, September 21st. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. DTE Energy’s dividend payout ratio (DPR) is presently 73.73%.

Institutional Trading of DTE Energy

A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its holdings in DTE Energy by 15,158.5% in the 2nd quarter. California State Teachers Retirement System now owns 36,841,390 shares of the utilities provider’s stock worth $5,613,523,000 after purchasing an additional 36,599,942 shares in the last quarter. BlackRock Inc. bought a new stake in shares of DTE Energy during the 2nd quarter valued at about $3,915,284,000. Capital Research Global Investors increased its position in shares of DTE Energy by 3.1% during the fourth quarter. Capital Research Global Investors now owns 12,447,948 shares of the utilities provider’s stock valued at $1,605,539,000 after buying an additional 379,443 shares during the period. State Street Corp increased its position in shares of DTE Energy by 2.5% during the fourth quarter. State Street Corp now owns 11,078,346 shares of the utilities provider’s stock valued at $1,441,776,000 after buying an additional 272,068 shares during the period. Finally, Geode Capital Management LLC raised its stake in DTE Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,592,670 shares of the utilities provider’s stock worth $718,668,000 after buying an additional 117,322 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on DTE shares. Morgan Stanley reduced their price objective on DTE Energy from $153.00 to $148.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price target on shares of DTE Energy in a research report on Monday, June 15th. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Jefferies Financial Group set a $172.00 price objective on shares of DTE Energy in a research note on Thursday, July 9th. Finally, TD Cowen began coverage on shares of DTE Energy in a report on Tuesday, July 7th. They set a “hold” rating and a $166.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

DTE Energy Company Profile

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.