State Board of Administration of Florida Retirement System trimmed its position in DTE Energy (NYSE:DTE – Get Rating) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,305 shares of the utilities provider’s stock after selling 1,867 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of DTE Energy worth $29,788,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in DTE. Tsfg LLC lifted its position in shares of DTE Energy by 73.5% during the 4th quarter. Tsfg LLC now owns 236 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. City State Bank acquired a new stake in shares of DTE Energy during the 4th quarter valued at $32,000. FSB Premier Wealth Management Inc. acquired a new stake in shares of DTE Energy during the 4th quarter valued at $46,000. HHM Wealth Advisors LLC acquired a new stake in shares of DTE Energy during the 1st quarter valued at $56,000. Finally, AIA Group Ltd lifted its position in shares of DTE Energy by 127.7% during the 1st quarter. AIA Group Ltd now owns 501 shares of the utilities provider’s stock valued at $66,000 after acquiring an additional 281 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently commented on DTE shares. Mizuho cut their price objective on DTE Energy from $137.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, July 11th. Credit Suisse Group upgraded DTE Energy from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $142.00 to $140.00 in a report on Monday, May 23rd. Barclays reduced their target price on DTE Energy from $141.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Citigroup increased their target price on DTE Energy from $134.00 to $146.00 in a report on Tuesday, May 3rd. Finally, Morgan Stanley reduced their target price on DTE Energy from $143.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.
Insiders Place Their Bets
DTE Energy Trading Up 0.1 %
NYSE DTE opened at $129.10 on Friday. DTE Energy has a 1-year low of $108.22 and a 1-year high of $140.23. The company has a current ratio of 0.59, a quick ratio of 0.47 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $25.01 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 3.57 and a beta of 0.60. The firm’s fifty day simple moving average is $125.85 and its 200-day simple moving average is $126.76.
DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.14). DTE Energy had a return on equity of 13.31% and a net margin of 4.27%. During the same quarter last year, the company earned $1.70 earnings per share. As a group, sell-side analysts anticipate that DTE Energy will post 6.02 earnings per share for the current fiscal year.
DTE Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, September 19th will be given a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, September 16th. DTE Energy’s payout ratio is 90.31%.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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