DTE Energy (NYSE:DTE) Shares Purchased by Salomon & Ludwin LLC

Salomon & Ludwin LLC increased its holdings in shares of DTE Energy (NYSE:DTEFree Report) by 82.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 432 shares of the utilities provider’s stock after acquiring an additional 195 shares during the quarter. Salomon & Ludwin LLC’s holdings in DTE Energy were worth $48,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC boosted its position in DTE Energy by 89.6% during the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 129 shares during the last quarter. MV Capital Management Inc. boosted its position in DTE Energy by 104.4% during the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 143 shares during the last quarter. Denali Advisors LLC acquired a new position in DTE Energy during the first quarter worth about $34,000. Creekmur Asset Management LLC acquired a new position in DTE Energy during the fourth quarter worth about $53,000. Finally, Principal Securities Inc. purchased a new position in DTE Energy during the fourth quarter worth about $54,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DTE Energy

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 sale, the vice president now directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction 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 directly owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,698 shares of company stock valued at $1,702,444. Insiders own 0.28% of the company’s stock.

DTE Energy Price Performance

DTE Energy stock opened at $108.61 on Wednesday. The firm has a market cap of $22.48 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.99 and a beta of 0.66. DTE Energy has a 52-week low of $90.14 and a 52-week high of $117.44. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. The company’s 50 day moving average is $112.77 and its two-hundred day moving average is $109.87.

DTE Energy (NYSE:DTEGet Free Report) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. On average, research analysts expect that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio is presently 66.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. BMO Capital Markets boosted their target price on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. KeyCorp boosted their target price on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Barclays boosted their target price on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has an average rating of “Hold” and a consensus price target of $115.67.

View Our Latest Stock Analysis on DTE Energy

About DTE Energy

(Free Report)

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.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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