Jacobi Capital Management LLC Raises Stake in DTE Energy (NYSE:DTE)

Jacobi Capital Management LLC increased its stake in shares of DTE Energy (NYSE:DTEGet Rating) by 2.8% during the first quarter, HoldingsChannel.com reports. The firm owned 4,548 shares of the utilities provider’s stock after buying an additional 126 shares during the period. Jacobi Capital Management LLC’s holdings in DTE Energy were worth $601,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in DTE Energy during the 1st quarter worth about $1,017,000. Quadrant Capital Group LLC increased its stake in DTE Energy by 9.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,038 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 87 shares during the last quarter. BDO Wealth Advisors LLC increased its stake in DTE Energy by 7.3% in the 1st quarter. BDO Wealth Advisors LLC now owns 9,384 shares of the utilities provider’s stock worth $1,241,000 after acquiring an additional 641 shares during the last quarter. AIA Group Ltd increased its stake in DTE Energy by 127.7% in the 1st quarter. AIA Group Ltd now owns 501 shares of the utilities provider’s stock worth $66,000 after acquiring an additional 281 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in DTE Energy by 1.0% in the 1st quarter. CIBC Asset Management Inc now owns 18,586 shares of the utilities provider’s stock worth $2,457,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of a number of research analyst reports. Citigroup upped their target price on DTE Energy from $134.00 to $146.00 in a research note on Tuesday, May 3rd. Mizuho decreased their target price on DTE Energy from $137.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Barclays decreased their target price on DTE Energy from $141.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Morgan Stanley reduced their price objective on DTE Energy from $143.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Finally, Credit Suisse Group upgraded DTE Energy from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $142.00 to $140.00 in a research report on Monday, May 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $132.00.

DTE Energy Stock Performance

NYSE:DTE opened at $129.10 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.59. DTE Energy has a fifty-two week low of $108.22 and a fifty-two week high of $140.23. The firm has a market cap of $25.01 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 3.57 and a beta of 0.60. The business has a 50 day moving average price of $125.85 and a 200-day moving average price of $126.76.

DTE Energy (NYSE:DTEGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.14). DTE Energy had a net margin of 4.27% and a return on equity of 13.31%. During the same quarter in the previous year, the firm posted $1.70 EPS. Equities research analysts predict that DTE Energy will post 6.02 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, September 19th will be paid a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 90.31%.

Insider Activity

In other news, COO Joi M. Harris sold 1,800 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $130.13, for a total transaction of $234,234.00. Following the completion of the transaction, the chief operating officer now directly owns 8,011 shares of the company’s stock, valued at $1,042,471.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Lisa A. Muschong sold 600 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. Following the transaction, the vice president now owns 3,485 shares in the company, valued at $467,965.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joi M. Harris sold 1,800 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $130.13, for a total transaction of $234,234.00. Following the transaction, the chief operating officer now owns 8,011 shares in the company, valued at approximately $1,042,471.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,300 shares of company stock valued at $692,701. Insiders own 0.61% of the company’s stock.

About DTE Energy

(Get Rating)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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