Mediolanum International Funds Ltd Takes Position in DTE Energy (NYSE:DTE)

Mediolanum International Funds Ltd purchased a new stake in DTE Energy (NYSE:DTE) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 70,329 shares of the utilities provider’s stock, valued at approximately $7,828,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in DTE Energy by 14.2% during the third quarter. Advisors Asset Management Inc. now owns 4,853 shares of the utilities provider’s stock worth $482,000 after purchasing an additional 603 shares during the last quarter. Lido Advisors LLC boosted its holdings in DTE Energy by 38.2% during the third quarter. Lido Advisors LLC now owns 4,414 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 1,221 shares during the last quarter. Royal Bank of Canada boosted its holdings in DTE Energy by 1.0% during the third quarter. Royal Bank of Canada now owns 469,980 shares of the utilities provider’s stock worth $46,661,000 after purchasing an additional 4,637 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in DTE Energy by 40.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 30,641 shares of the utilities provider’s stock worth $3,042,000 after purchasing an additional 8,897 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in DTE Energy by 9.8% during the third quarter. Belpointe Asset Management LLC now owns 2,014 shares of the utilities provider’s stock worth $200,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Activity

In other news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now directly owns 4,271 shares of the company’s stock, valued at $498,041.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock valued at $1,702,444 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on DTE shares. BMO Capital Markets increased their target price on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Barclays increased their price target on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley cut their price target on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $115.67.

DTE Energy Stock Performance

Shares of DTE traded up $0.41 during trading hours on Wednesday, hitting $109.08. The company had a trading volume of 1,021,112 shares, compared to its average volume of 1,102,120. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 1.99 and a beta of 0.66. The business has a fifty day moving average of $112.77 and a 200-day moving average of $109.87. DTE Energy has a 12 month low of $90.14 and a 12 month 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.

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

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is presently 66.78%.

DTE Energy Company Profile

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.