Commerce Bank Has $2.24 Million Stock Position in DTE Energy (NYSE:DTE)

Commerce Bank lifted its stake in DTE Energy (NYSE:DTEFree Report) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,293 shares of the utilities provider’s stock after buying an additional 305 shares during the period. Commerce Bank’s holdings in DTE Energy were worth $2,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Enterprise Financial Services Corp bought a new position in DTE Energy during the 4th quarter valued at about $223,000. Ontario Teachers Pension Plan Board bought a new stake in DTE Energy during the 4th quarter worth approximately $256,000. Nemes Rush Group LLC increased its holdings in DTE Energy by 71.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,331 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 975 shares in the last quarter. Assetmark Inc. increased its holdings in DTE Energy by 17.1% during the 4th quarter. Assetmark Inc. now owns 2,118 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 309 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in DTE Energy by 7.7% in the 4th quarter. Corient Private Wealth LLC now owns 63,477 shares of the utilities provider’s stock valued at $6,999,000 after purchasing an additional 4,556 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of several research analyst reports. Morgan Stanley increased their target price on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Barclays raised their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. KeyCorp raised their price target 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, JPMorgan Chase & Co. boosted their target price on DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have issued 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 a consensus target price of $116.30.

Get Our Latest Stock Report on DTE Energy

DTE Energy Stock Up 0.8 %

Shares of NYSE DTE opened at $112.96 on Tuesday. DTE Energy has a 52-week low of $90.14 and a 52-week high of $117.44. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The stock has a market cap of $23.38 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.06 and a beta of 0.64. The firm has a 50 day moving average price of $111.12 and a 200 day moving average price of $108.70.

DTE Energy (NYSE:DTEGet Free Report) last announced 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). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. Analysts expect that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.61%. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Insider Transactions at DTE Energy

In related news, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by insiders.

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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