DTE Energy Company (DTE) Chairman Sells $1,399,089.77 in Stock
DTE Energy Company (NYSE:DTE) Chairman Gerard M. Anderson sold 12,389 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the transaction, the chairman now directly owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
DTE Energy Company (DTE) opened at $112.62 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20. DTE Energy Company has a 12 month low of $92.19 and a 12 month high of $116.21. The company has a market cap of $20,202.94, a P/E ratio of 21.87, a PEG ratio of 3.39 and a beta of 0.23.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business posted $1.96 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. sell-side analysts expect that DTE Energy Company will post 5.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be paid a $0.8825 dividend. The ex-dividend date is Friday, December 15th. This represents a $3.53 dividend on an annualized basis and a yield of 3.13%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s payout ratio is currently 60.44%.
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A number of institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd purchased a new position in DTE Energy in the third quarter worth approximately $552,000. Neuberger Berman Group LLC lifted its stake in DTE Energy by 18.5% in the third quarter. Neuberger Berman Group LLC now owns 918,521 shares of the utilities provider’s stock worth $98,612,000 after acquiring an additional 143,134 shares during the last quarter. California Public Employees Retirement System lifted its stake in DTE Energy by 2.3% in the third quarter. California Public Employees Retirement System now owns 449,911 shares of the utilities provider’s stock worth $48,302,000 after acquiring an additional 10,095 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in DTE Energy by 57.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,598 shares of the utilities provider’s stock worth $1,458,000 after acquiring an additional 4,960 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in DTE Energy by 10.3% in the third quarter. Janus Henderson Group PLC now owns 1,815,093 shares of the utilities provider’s stock worth $194,869,000 after acquiring an additional 169,341 shares during the last quarter. Institutional investors own 67.89% of the company’s stock.
DTE has been the subject of several research analyst reports. KeyCorp reaffirmed a “buy” rating and set a $113.00 target price on shares of DTE Energy in a research note on Sunday, August 27th. Credit Suisse Group lowered their target price on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Bank of America Corporation assumed coverage on shares of DTE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. Finally, Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $111.50.
About DTE Energy
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