Enterprise Financial Services Corp Invests $223,000 in DTE Energy (NYSE:DTE)

Enterprise Financial Services Corp acquired a new position in shares of DTE Energy (NYSE:DTE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,025 shares of the utilities provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its stake in DTE Energy by 16.4% in the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after purchasing an additional 724,561 shares during the period. Boston Partners grew its position in shares of DTE Energy by 66.8% during the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after buying an additional 1,018,212 shares in the last quarter. Invesco Ltd. grew its position in shares of DTE Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after buying an additional 137,960 shares in the last quarter. Northern Trust Corp boosted its position in DTE Energy by 1.5% during the third quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after purchasing an additional 27,891 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in DTE Energy by 2.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,682,067 shares of the utilities provider’s stock worth $185,465,000 after acquiring an additional 40,208 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DTE. Morgan Stanley raised their price target on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Scotiabank reduced their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets lifted their price target on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, KeyCorp raised their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.30.

DTE Energy Trading Down 1.7 %

NYSE:DTE traded down $1.97 on Thursday, reaching $113.09. The company’s stock had a trading volume of 141,237 shares, compared to its average volume of 1,132,633. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. The firm has a market cap of $23.40 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64. The stock has a 50 day moving average price of $110.90 and a 200 day moving average price of $108.33.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.04). The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. On average, equities analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a yield of 3.61%. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

Insiders Place Their Bets

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Robert A. Richard sold 4,800 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now directly owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at $4,862,836. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

DTE Energy Company 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.