Bank of Montreal Can Sells 25,475 Shares of DTE Energy (NYSE:DTE)

Bank of Montreal Can trimmed its position in DTE Energy (NYSE:DTEGet Rating) by 10.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,083 shares of the utilities provider’s stock after selling 25,475 shares during the period. Bank of Montreal Can owned approximately 0.11% of DTE Energy worth $27,868,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 valued at $244,000 after buying an additional 79 shares in the last quarter. US Bancorp DE boosted its stake in DTE Energy by 0.3% during the 1st quarter. US Bancorp DE now owns 28,381 shares of the utilities provider’s stock valued at $3,752,000 after purchasing an additional 86 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in DTE Energy by 9.1% during the 1st quarter. Quadrant Capital Group LLC now owns 1,038 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 87 shares during the last quarter. City Holding Co. boosted its stake in DTE Energy by 1.0% during the 1st quarter. City Holding Co. now owns 9,450 shares of the utilities provider’s stock valued at $1,249,000 after purchasing an additional 90 shares during the last quarter. Finally, Tsfg LLC boosted its stake in DTE Energy by 73.5% during the 4th quarter. Tsfg LLC now owns 236 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. 73.80% of the stock is owned by institutional investors.

DTE Energy Price Performance

Shares of NYSE DTE opened at $131.14 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.59 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $25.41 billion, a PE ratio of 33.45, a PEG ratio of 3.70 and a beta of 0.60. The stock’s 50 day moving average price is $128.76 and its 200-day moving average price is $128.62. DTE Energy has a twelve month low of $108.22 and a twelve month high of $140.23.

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

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be issued a $0.885 dividend. The ex-dividend date is Friday, September 16th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 2.70%. DTE Energy’s dividend payout ratio (DPR) is presently 90.31%.

Insider Buying and Selling

In related news, EVP Robert A. Richard sold 2,900 shares of DTE Energy stock in a transaction that occurred on Tuesday, August 2nd. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert A. Richard sold 2,900 shares of DTE Energy stock in a transaction that occurred on Tuesday, August 2nd. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joann Chavez sold 1,000 shares of DTE Energy stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $135.62, for a total transaction of $135,620.00. Following the completion of the sale, the senior vice president now directly owns 9,657 shares in the company, valued at approximately $1,309,682.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,700 shares of company stock valued at $747,753. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

DTE has been the subject of a number of analyst reports. Morgan Stanley lifted their price target on DTE Energy from $131.00 to $141.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Mizuho cut their price target on DTE Energy from $137.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, July 11th. Barclays cut their price target on DTE Energy from $141.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, Credit Suisse Group lifted their price target on DTE Energy to $140.00 in a research note on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.36.

DTE Energy Profile

(Get Rating)

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.

Further Reading

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

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