Comerica Bank Increases Stake in DTE Energy (NYSE:DTE)

Comerica Bank boosted its stake in DTE Energy (NYSE:DTE) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,388 shares of the utilities provider’s stock after purchasing an additional 3,963 shares during the period. Comerica Bank’s holdings in DTE Energy were worth $7,669,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Capital Research Global Investors grew its position in shares of DTE Energy by 1.2% in the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after buying an additional 261,623 shares during the last quarter. Boston Partners increased its position in DTE Energy by 66.8% during the fourth 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. Clearbridge Investments LLC grew its holdings in DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after purchasing an additional 1,756,459 shares during the period. Janus Henderson Group PLC grew its holdings in DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in DTE Energy by 2.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,682,067 shares of the utilities provider’s stock valued at $185,465,000 after purchasing an additional 40,208 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of recent analyst reports. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Morgan Stanley dropped their price objective on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. KeyCorp upped their price objective on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Barclays upped their price objective on DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $119.30.

Insider Transactions at DTE Energy

In other news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, 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. Insiders sold 14,698 shares of company stock valued at $1,702,444 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

DTE Energy Trading Down 0.7 %

DTE traded down $0.84 during trading on Friday, hitting $122.54. 354,123 shares of the stock were exchanged, compared to its average volume of 1,093,704. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. The firm has a market cap of $25.36 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 2.21 and a beta of 0.66. The firm has a 50 day simple moving average of $113.51 and a 200 day simple moving average of $110.64. DTE Energy has a 1 year low of $90.14 and a 1 year high of $126.76.

DTE Energy (NYSE:DTE) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $2.65 billion. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. During the same quarter last year, the firm earned $0.99 EPS. As a group, equities analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.33%. DTE Energy’s payout ratio is 66.78%.

About DTE Energy

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.