DTE Energy (NYSE:DTE) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its stake in shares of DTE Energy (NYSE:DTE) by 26.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,412 shares of the utilities provider’s stock after selling 78,230 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in DTE Energy were worth $24,268,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in DTE Energy by 6,964.9% in the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after acquiring an additional 2,060,762 shares during the last quarter. Clearbridge Investments LLC raised its holdings in DTE Energy by 224.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after acquiring an additional 1,756,459 shares during the last quarter. Boston Partners raised its holdings in DTE Energy by 66.8% in the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after acquiring an additional 1,018,212 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in DTE Energy in the 4th quarter valued at $74,478,000. Finally, Capital Research Global Investors raised its holdings in DTE Energy by 1.9% in the 4th quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after acquiring an additional 399,646 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley lowered their price objective on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Wells Fargo & Company boosted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Scotiabank decreased their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $119.30.

DTE Energy Price Performance

Shares of DTE Energy stock traded up $1.54 on Tuesday, hitting $120.65. The company had a trading volume of 807,543 shares, compared to its average volume of 1,099,030. The business has a 50-day simple moving average of $113.11 and a 200-day simple moving average of $110.40. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The company has a market cap of $24.97 billion, a PE ratio of 19.49, a PEG ratio of 2.15 and a beta of 0.66. DTE Energy has a 52 week low of $90.14 and a 52 week high of $120.84.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.22. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. During the same period last year, the firm posted $0.99 earnings per share. Research analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

Insider Activity at DTE Energy

In related news, VP Lisa A. Muschong sold 1,198 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at approximately $498,041.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,698 shares of company stock worth $1,702,444. 0.61% of the stock is owned by corporate insiders.

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.