Swiss National Bank Sells 18,200 Shares of DTE Energy (NYSE:DTE)

Swiss National Bank trimmed its position in DTE Energy (NYSE:DTE) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 644,800 shares of the utilities provider’s stock after selling 18,200 shares during the quarter. Swiss National Bank owned 0.31% of DTE Energy worth $71,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in DTE Energy by 16.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after purchasing an additional 724,561 shares during the period. Invesco Ltd. lifted its stake in DTE Energy by 6.6% in the third quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after acquiring an additional 137,960 shares during the period. Northern Trust Corp boosted its holdings in DTE Energy by 1.5% in the third quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after acquiring an additional 27,891 shares in the last quarter. California Public Employees Retirement System boosted its holdings in DTE Energy by 0.8% in the fourth quarter. California Public Employees Retirement System now owns 1,242,920 shares of the utilities provider’s stock valued at $137,044,000 after acquiring an additional 9,944 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in DTE Energy by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,180,851 shares of the utilities provider’s stock valued at $117,235,000 after purchasing an additional 8,783 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DTE shares. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Guggenheim cut DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 price objective on the stock. in a research report on Monday, January 22nd. JPMorgan Chase & Co. upped their target price on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Barclays upped their price target on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley raised their price objective on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Insiders Place Their Bets

In other news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at $2,801,155.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at $2,801,155.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at $370,572.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,095 shares of company stock valued at $2,168,183. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $112.75 on Monday. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The firm’s 50-day moving average is $109.49 and its 200 day moving average is $106.75. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.81 and a beta of 0.64. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54.

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

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a yield of 3.62%. DTE Energy’s dividend 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.