Neuberger Berman Group LLC Acquires 667,058 Shares of DTE Energy (NYSE:DTE)

Neuberger Berman Group LLC boosted its holdings in DTE Energy (NYSE:DTEGet Rating) by 447.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 816,065 shares of the utilities provider’s stock after buying an additional 667,058 shares during the period. Neuberger Berman Group LLC owned approximately 0.42% of DTE Energy worth $107,927,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Fermata Advisors LLC increased its position in DTE Energy by 4.5% in the 1st quarter. Fermata Advisors LLC now owns 1,842 shares of the utilities provider’s stock worth $244,000 after buying an additional 79 shares during the period. US Bancorp DE increased its position in DTE Energy by 0.3% in the 1st quarter. US Bancorp DE now owns 28,381 shares of the utilities provider’s stock worth $3,752,000 after buying an additional 86 shares during the period. Quadrant Capital Group LLC increased its position in DTE Energy by 9.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,038 shares of the utilities provider’s stock worth $137,000 after buying an additional 87 shares during the period. City Holding Co. increased its position in DTE Energy by 1.0% in the 1st quarter. City Holding Co. now owns 9,450 shares of the utilities provider’s stock worth $1,249,000 after buying an additional 90 shares during the period. Finally, Leisure Capital Management grew its holdings in shares of DTE Energy by 1.1% during the 1st quarter. Leisure Capital Management now owns 8,973 shares of the utilities provider’s stock worth $1,186,000 after purchasing an additional 97 shares in the last quarter. 73.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on DTE shares. Mizuho decreased their price objective on DTE Energy from $137.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Credit Suisse Group lifted their price objective on DTE Energy to $140.00 in a report on Tuesday, August 9th. Morgan Stanley lifted their price objective on DTE Energy from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Finally, Barclays decreased their price objective on DTE Energy from $141.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.36.

DTE Energy Price Performance

Shares of DTE stock opened at $129.90 on Friday. The stock’s fifty day simple moving average is $130.48 and its 200 day simple moving average is $129.75. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.59 and a quick ratio of 0.47. DTE Energy has a one year low of $108.22 and a one year high of $140.23. The firm has a market cap of $25.17 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 3.71 and a beta of 0.60.

DTE Energy (NYSE:DTEGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.14). DTE Energy had a net margin of 4.27% and a return on equity of 13.31%. During the same period in the prior year, the company posted $1.70 earnings per share. On average, analysts expect that DTE Energy will post 6.02 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, September 19th will be given a $0.885 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $3.54 annualized dividend and a yield of 2.73%. DTE Energy’s payout ratio is 90.31%.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Joi M. Harris sold 1,800 shares of DTE Energy stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $130.13, for a total value of $234,234.00. Following the completion of the transaction, the chief operating officer now owns 8,011 shares in the company, valued at approximately $1,042,471.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Joi M. Harris sold 1,800 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $130.13, for a total transaction of $234,234.00. Following the completion of the sale, the chief operating officer now owns 8,011 shares in the company, valued at $1,042,471.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert A. Richard sold 2,900 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $130.31, for a total value of $377,899.00. Following the sale, the executive vice president now owns 18,046 shares of the company’s stock, valued at approximately $2,351,574.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,700 shares of company stock worth $747,753. 0.61% of the stock is currently owned by insiders.

About DTE Energy

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

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