Gerard M. Anderson Sells 15,000 Shares of DTE Energy Co. (DTE) Stock
DTE Energy Co. (NYSE:DTE) Chairman Gerard M. Anderson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $93.74, for a total transaction of $1,406,100.00. Following the completion of the transaction, the chairman now directly owns 90,000 shares in the company, valued at $8,436,600. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of DTE Energy Co. (NYSE:DTE) opened at 92.66 on Thursday. The firm has a market cap of $16.63 billion, a P/E ratio of 20.39 and a beta of 0.19. DTE Energy Co. has a 12-month low of $77.35 and a 12-month high of $100.45. The firm has a 50-day moving average of $92.86 and a 200-day moving average of $94.02.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.54. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that DTE Energy Co. will post $5.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Monday, December 19th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.56%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s payout ratio is 67.84%.
Several hedge funds and other institutional investors have recently modified their holdings of DTE. Cohen & Steers Inc. raised its position in shares of DTE Energy by 3,866.0% in the second quarter. Cohen & Steers Inc. now owns 19,761,823 shares of the company’s stock worth $610,245,000 after buying an additional 19,263,546 shares during the period. Vanguard Group Inc. raised its position in shares of DTE Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,705,663 shares of the company’s stock worth $1,655,866,000 after buying an additional 496,138 shares during the period. BlackRock Fund Advisors raised its position in shares of DTE Energy by 3.2% in the third quarter. BlackRock Fund Advisors now owns 6,285,260 shares of the company’s stock worth $588,740,000 after buying an additional 192,703 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of DTE Energy by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,359,955 shares of the company’s stock worth $502,067,000 after buying an additional 196,967 shares during the period. Finally, FMR LLC raised its position in shares of DTE Energy by 0.9% in the second quarter. FMR LLC now owns 3,138,411 shares of the company’s stock worth $311,079,000 after buying an additional 27,955 shares during the period. Institutional investors and hedge funds own 66.02% of the company’s stock.
A number of research analysts recently weighed in on the stock. Jefferies Group set a $103.00 price target on shares of DTE Energy and gave the company a “buy” rating in a research note on Tuesday. Bank of America Corp. raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Wednesday, September 28th. Macquarie raised their price target on shares of DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, September 27th. Finally, KeyCorp set a $105.00 price target on shares of DTE Energy and gave the company a “buy” rating in a research note on Monday, September 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $103.17.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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