4,272 Shares in DTE Energy (NYSE:DTE) Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel purchased a new position in DTE Energy (NYSE:DTE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,272 shares of the utilities provider’s stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DTE. ESL Trust Services LLC acquired a new stake in DTE Energy in the first quarter worth $27,000. Rise Advisors LLC boosted its position in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of DTE Energy in the 1st quarter valued at about $34,000. Salomon & Ludwin LLC increased its position in DTE Energy by 82.3% in the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock valued at $48,000 after buying an additional 195 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in DTE Energy during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Ratings Changes

DTE has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. LADENBURG THALM/SH SH assumed coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 price target for the company. Barclays raised 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, July 30th. Scotiabank boosted their target price on shares of DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Finally, StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.91.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,198 shares of the business’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 transaction of $139,698.78. Following the completion of the transaction, the vice president now owns 4,271 shares of the company’s stock, valued at $498,041.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

NYSE DTE traded up $0.81 on Wednesday, hitting $123.74. 95,115 shares of the stock traded hands, compared to its average volume of 1,085,248. The firm has a market capitalization of $25.61 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.27 and a beta of 0.66. The business’s fifty day moving average is $115.44 and its two-hundred day moving average is $112.20. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69. DTE Energy has a 12 month low of $90.14 and a 12 month high of $126.76.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business earned $0.99 earnings per share. As a group, equities analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.30%. DTE Energy’s dividend payout ratio (DPR) 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.