Montecito Bank & Trust Trims Stake in DTE Energy (NYSE:DTE)

Montecito Bank & Trust trimmed its holdings in shares of DTE Energy (NYSE:DTE) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,751 shares of the utilities provider’s stock after selling 490 shares during the quarter. Montecito Bank & Trust’s holdings in DTE Energy were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC grew its position in DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares in the last quarter. MV Capital Management Inc. lifted its stake in DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 143 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in DTE Energy during the fourth quarter worth about $53,000. Principal Securities Inc. bought a new stake in DTE Energy during the fourth quarter worth about $54,000. Finally, Quarry LP bought a new stake in DTE Energy during the fourth quarter worth about $63,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following the transaction, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The disclosure for this sale can be found here. Insiders sold 14,698 shares of company stock valued at $1,702,444 in the last 90 days. Insiders own 0.61% of the company’s stock.

DTE Energy Trading Up 0.8 %

DTE traded up $0.83 during midday trading on Thursday, reaching $111.40. 370,382 shares of the company’s stock traded hands, compared to its average volume of 1,108,886. The firm has a fifty day moving average of $112.23 and a two-hundred day moving average of $109.81. The stock has a market capitalization of $23.05 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.01 and a beta of 0.67. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. DTE Energy has a 52 week low of $90.14 and a 52 week high of $117.44.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. On average, equities analysts anticipate that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy’s payout ratio is 66.78%.

Analyst Ratings Changes

DTE has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. KeyCorp lifted their price target on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Scotiabank dropped their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. lifted their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Finally, Barclays boosted their target price on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.44.

DTE Energy Company Profile

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.