DTE Energy Co (NYSE:DTE) Director Gary Torgow acquired 1,537 shares of DTE Energy stock in a transaction on Thursday, September 5th. The shares were bought at an average price of $129.95 per share, for a total transaction of $199,733.15. Following the completion of the purchase, the director now directly owns 2,537 shares in the company, valued at $329,683.15. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NYSE DTE traded down $0.99 during midday trading on Monday, hitting $127.89. The stock had a trading volume of 31,997 shares, compared to its average volume of 927,923. The company’s 50-day simple moving average is $129.12 and its 200 day simple moving average is $126.75. The firm has a market cap of $23.81 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 3.49 and a beta of 0.22. DTE Energy Co has a fifty-two week low of $106.41 and a fifty-two week high of $132.50. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.75 and a quick ratio of 0.54.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.10). The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.98 billion. DTE Energy had a net margin of 8.09% and a return on equity of 10.33%. During the same period last year, the company earned $1.36 EPS. Equities analysts expect that DTE Energy Co will post 6.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.78 annualized dividend and a yield of 2.96%. DTE Energy’s dividend payout ratio is currently 60.00%.
Institutional investors have recently added to or reduced their stakes in the business. 6 Meridian grew its position in shares of DTE Energy by 1.9% during the 2nd quarter. 6 Meridian now owns 4,294 shares of the utilities provider’s stock worth $549,000 after buying an additional 79 shares during the period. BB&T Securities LLC lifted its holdings in DTE Energy by 4.3% during the second quarter. BB&T Securities LLC now owns 2,120 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 87 shares in the last quarter. Abner Herrman & Brock LLC grew its stake in DTE Energy by 5.6% in the second quarter. Abner Herrman & Brock LLC now owns 1,710 shares of the utilities provider’s stock valued at $219,000 after acquiring an additional 90 shares during the period. Hyman Charles D increased its holdings in shares of DTE Energy by 4.1% in the second quarter. Hyman Charles D now owns 2,550 shares of the utilities provider’s stock worth $326,000 after acquiring an additional 100 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of DTE Energy by 11.9% in the 1st quarter. Parallel Advisors LLC now owns 1,027 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 109 shares during the period. Institutional investors own 70.90% of the company’s stock.
A number of equities analysts have commented on DTE shares. Wells Fargo & Co upgraded DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, August 26th. Bank of America reduced their target price on shares of DTE Energy from $124.00 to $122.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. Mizuho started coverage on DTE Energy in a report on Monday, August 12th. They issued a “neutral” rating and a $131.00 target price for the company. ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, KeyCorp began coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. DTE Energy presently has an average rating of “Hold” and an average target price of $128.64.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 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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