DTE Energy (NYSE:DTE) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of DTE Energy (NYSE:DTE) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,480 shares of the utilities provider’s stock after purchasing an additional 378 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DTE Energy were worth $2,273,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Panagora Asset Management Inc. grew its stake in shares of DTE Energy by 133.2% during the second quarter. Panagora Asset Management Inc. now owns 248,151 shares of the utilities provider’s stock valued at $27,547,000 after acquiring an additional 141,718 shares in the last quarter. Blue Chip Partners LLC grew its holdings in DTE Energy by 1.8% during the 2nd quarter. Blue Chip Partners LLC now owns 122,888 shares of the utilities provider’s stock worth $13,642,000 after acquiring an additional 2,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DTE Energy by 26.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,154 shares of the utilities provider’s stock valued at $6,900,000 after purchasing an additional 12,967 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of DTE Energy during the second quarter worth about $31,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in DTE Energy by 3.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 35,053 shares of the utilities provider’s stock valued at $3,891,000 after buying an additional 1,042 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE stock opened at $125.02 on Friday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $126.76. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The firm has a market capitalization of $25.87 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66. The business has a 50 day simple moving average of $117.20 and a 200 day simple moving average of $113.04.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.22. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.99 EPS. On average, equities research analysts anticipate that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. 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 3.26%. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Analyst Ratings Changes

A number of research firms have commented on DTE. Bank of America increased their target price on DTE Energy from $131.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday. LADENBURG THALM/SH SH began coverage on shares of DTE Energy in a research note on Wednesday, August 14th. They set a “buy” rating and a $131.00 target price for the company. Barclays increased their target price on shares of DTE Energy from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Finally, KeyCorp increased their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

Insider Transactions 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 stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, 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 the SEC website. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.