Insider Selling: DTE Energy Company (NYSE:DTE) Insider Sells 9,999 Shares of Stock
DTE Energy Company (NYSE:DTE) insider Larry E. Steward sold 9,999 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.52, for a total value of $1,075,092.48. Following the transaction, the insider now owns 39,698 shares of the company’s stock, valued at $4,268,328.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
DTE Energy Company (DTE) traded up 0.06% during mid-day trading on Friday, reaching $108.94. The company had a trading volume of 797,721 shares. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 18.76 and a beta of 0.21. The stock has a 50 day moving average of $107.28 and a 200 day moving average of $103.79. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $111.35.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The business’s revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Analysts anticipate that DTE Energy Company will post $5.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is currently 56.60%.
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A number of research analysts have recently commented on DTE shares. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Tuesday, April 11th. Deutsche Bank AG increased their target price on DTE Energy from $100.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. Barclays PLC reiterated an “overweight” rating and set a $115.00 target price (up from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $117.00 target price (up from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Finally, BidaskClub downgraded DTE Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. DTE Energy currently has an average rating of “Hold” and a consensus target price of $108.00.
A number of institutional investors have recently added to or reduced their stakes in DTE. State Board of Administration of Florida Retirement System raised its position in DTE Energy by 2.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 253,848 shares of the utilities provider’s stock worth $26,855,000 after buying an additional 5,389 shares during the period. Blair William & Co. IL raised its position in DTE Energy by 7.8% in the second quarter. Blair William & Co. IL now owns 14,522 shares of the utilities provider’s stock worth $1,536,000 after buying an additional 1,055 shares during the period. BNP Paribas Arbitrage SA raised its position in DTE Energy by 21.1% in the second quarter. BNP Paribas Arbitrage SA now owns 209,919 shares of the utilities provider’s stock worth $22,207,000 after buying an additional 36,581 shares during the period. Highstreet Asset Management Inc. bought a new position in DTE Energy during the second quarter worth $507,000. Finally, Legal & General Group Plc raised its position in DTE Energy by 5.5% in the second quarter. Legal & General Group Plc now owns 1,481,225 shares of the utilities provider’s stock worth $156,706,000 after buying an additional 77,362 shares during the period. 67.89% of the stock is currently owned by institutional investors.
DTE Energy Company Profile
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