DTE Energy Company $DTE Shares Purchased by AlphaQuest LLC

AlphaQuest LLC raised its holdings in shares of DTE Energy Company (NYSE:DTE) by 28,600.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287 shares of the utilities provider’s stock after purchasing an additional 286 shares during the quarter. AlphaQuest LLC’s holdings in DTE Energy were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in DTE Energy by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider’s stock valued at $329,988,000 after purchasing an additional 12,554 shares in the last quarter. Northern Trust Corp grew its stake in DTE Energy by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,836,832 shares of the utilities provider’s stock valued at $253,979,000 after purchasing an additional 9,664 shares in the last quarter. JPMorgan Chase & Co. grew its stake in DTE Energy by 57.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider’s stock valued at $194,341,000 after purchasing an additional 512,567 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in DTE Energy by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,316,107 shares of the utilities provider’s stock valued at $181,978,000 after purchasing an additional 9,443 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in DTE Energy by 14,878.4% during the 1st quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider’s stock valued at $163,655,000 after purchasing an additional 1,175,689 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Up 0.7%

Shares of NYSE DTE opened at $136.43 on Friday. The company has a market cap of $28.32 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.69 and a beta of 0.42. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $142.05. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96. The stock’s 50 day simple moving average is $136.68 and its 200 day simple moving average is $135.00.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities research analysts expect that DTE Energy Company will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a dividend yield of 3.2%. DTE Energy’s dividend payout ratio (DPR) is 62.73%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DTE shares. Wall Street Zen lowered DTE Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 25th. Citigroup reiterated a “buy” rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Morgan Stanley set a $140.00 target price on DTE Energy and gave the stock an “overweight” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. lifted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets lifted their target price on DTE Energy from $140.00 to $144.00 and gave the stock a “market perform” rating in a research report on Monday, August 25th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.38.

Insider Activity

In related news, VP Lisa A. Muschong sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the sale, the vice president owned 4,153 shares of the company’s stock, valued at approximately $583,621.09. This trade represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

DTE Energy 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.