Empirical Finance LLC Increases Stock Position in DTE Energy (NYSE:DTE)

Empirical Finance LLC raised its holdings in DTE Energy (NYSE:DTE) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,165 shares of the utilities provider’s stock after purchasing an additional 252 shares during the period. Empirical Finance LLC’s holdings in DTE Energy were worth $803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. PBMares Wealth Management LLC lifted its holdings in shares of DTE Energy by 4.5% in the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 100 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in shares of DTE Energy by 2.2% in the first quarter. Center for Financial Planning Inc. now owns 4,972 shares of the utilities provider’s stock valued at $558,000 after purchasing an additional 105 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of DTE Energy by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock valued at $4,700,000 after purchasing an additional 107 shares in the last quarter. Secure Asset Management LLC lifted its holdings in shares of DTE Energy by 1.7% in the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 127 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of DTE Energy by 0.3% in the first quarter. Retirement Systems of Alabama now owns 45,568 shares of the utilities provider’s stock valued at $5,110,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 1.1 %

Shares of DTE stock traded up $1.30 on Friday, hitting $114.48. The stock had a trading volume of 1,037,334 shares, compared to its average volume of 1,107,660. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.99 and a beta of 0.66. The stock’s 50 day moving average is $112.75 and its 200-day moving average is $109.89. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy has a 52-week low of $90.14 and a 52-week high of $117.44.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. As a group, research analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 3.56%. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Insider Activity

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,698 shares of company stock worth $1,702,444. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. Barclays upped their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. KeyCorp upped their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Scotiabank reduced their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $115.67.

DTE Energy 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.