Tower Research Capital LLC TRC Boosts Stock Holdings in DTE Energy (NYSE:DTE)

Tower Research Capital LLC TRC grew its position in shares of DTE Energy (NYSE:DTEFree Report) by 41.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,607 shares of the utilities provider’s stock after buying an additional 7,830 shares during the quarter. Tower Research Capital LLC TRC’s holdings in DTE Energy were worth $2,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA grew its holdings in shares of DTE Energy by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock valued at $12,815,000 after buying an additional 1,106 shares during the last quarter. Raymond James & Associates grew its holdings in shares of DTE Energy by 6.5% during the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock valued at $23,098,000 after buying an additional 12,871 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of DTE Energy by 273.2% during the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock valued at $5,300,000 after buying an additional 35,189 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of DTE Energy by 25.9% during the fourth 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 last quarter. Finally, Arvest Investments Inc. purchased a new stake in shares of DTE Energy during the fourth quarter valued at approximately $2,581,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Down 1.1 %

Shares of DTE stock opened at $112.33 on Friday. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.07 and a beta of 0.67. DTE Energy has a one year low of $90.14 and a one year high of $117.44. The company’s fifty day moving average price is $111.85 and its 200-day moving average price is $109.43. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54.

DTE Energy (NYSE:DTEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion for 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%. Sell-side analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.63%. DTE Energy’s payout ratio is 66.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank dropped their target price on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. KeyCorp raised their target price on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. JPMorgan Chase & Co. raised 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. Finally, 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 report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $115.44.

Read Our Latest Report on DTE

Insider Activity

In other DTE Energy news, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction on 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 sale, 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 SEC, which is accessible through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The shares were 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. Insiders have sold 14,698 shares of company stock worth $1,702,444 in the last three months. Company insiders own 0.61% of the company’s stock.

DTE Energy Profile

(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.

See Also

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

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