Swiss National Bank Reduces Position in DTE Energy (NYSE:DTE)

Swiss National Bank decreased its holdings in shares of DTE Energy (NYSE:DTE) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 644,800 shares of the utilities provider’s stock after selling 18,200 shares during the period. Swiss National Bank’s holdings in DTE Energy were worth $71,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Glenmede Trust Co. NA grew its position in DTE Energy by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock valued at $12,815,000 after acquiring an additional 1,106 shares during the last quarter. Raymond James & Associates grew its holdings in shares of DTE Energy by 6.5% in the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock worth $23,098,000 after purchasing an additional 12,871 shares during the last quarter. SG Americas Securities LLC increased its stake in DTE Energy by 273.2% in the 4th quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after buying an additional 35,189 shares during the period. Arvest Investments Inc. bought a new stake in DTE Energy during the 4th quarter valued at about $2,581,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in DTE Energy by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock valued at $4,271,000 after buying an additional 7,975 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Price Performance

DTE opened at $112.75 on Monday. The firm has a market capitalization of $23.33 billion, a PE ratio of 18.45, a price-to-earnings-growth 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. The business’s 50-day moving average is $109.49 and its two-hundred day moving average is $106.75. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The firm 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%. Research analysts anticipate that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.62%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Activity

In related news, CAO Tracy J. Myrick sold 600 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was 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 approximately $370,572.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $743,200.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Tracy J. Myrick sold 600 shares of DTE Energy 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 sale, the chief accounting officer now 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 worth $2,168,183. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

DTE has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Barclays raised their price objective on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. 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. Scotiabank cut their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Finally, TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

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.