Richardson Financial Services Inc. Invests $178,000 in DTE Energy (NYSE:DTE)

Richardson Financial Services Inc. acquired a new position in DTE Energy (NYSE:DTEFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,615 shares of the utilities provider’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Glenmede Trust Co. NA grew its stake in shares of DTE Energy by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock worth $12,815,000 after acquiring an additional 1,106 shares during the last quarter. Raymond James & Associates boosted its stake in DTE Energy by 6.5% during the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock worth $23,098,000 after buying an additional 12,871 shares in the last quarter. SG Americas Securities LLC boosted its stake in DTE Energy by 273.2% during the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock worth $5,300,000 after buying an additional 35,189 shares in the last quarter. Grayhawk Investment Strategies Inc. acquired a new stake in DTE Energy during the fourth quarter worth $1,305,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in DTE Energy by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock worth $4,271,000 after buying an additional 7,975 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of DTE Energy stock traded down $0.40 during trading on Friday, reaching $112.14. The company’s stock had a trading volume of 766,328 shares, compared to its average volume of 873,865. The stock has a 50-day moving average price of $112.11 and a two-hundred day moving average price of $109.74. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. DTE Energy has a one year low of $90.14 and a one year high of $117.44. The stock has a market capitalization of $23.21 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.67.

DTE Energy (NYSE:DTEGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. As a group, sell-side analysts anticipate that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently disclosed 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 is Monday, June 17th. This represents a $4.08 annualized dividend and a yield of 3.64%. DTE Energy’s dividend payout ratio is currently 66.78%.

Insiders Place Their Bets

In other news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the completion of the transaction, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the transaction, the vice president now owns 4,271 shares of the company’s stock, valued at $498,041.31. The disclosure for this sale can be found here. In the last three months, insiders sold 14,698 shares of company stock valued at $1,702,444. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Morgan Stanley lifted their price target on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Scotiabank cut their price objective on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Finally, KeyCorp lifted their price objective on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Hold” and a consensus target price of $115.44.

Get Our Latest Stock Report on DTE

DTE Energy Profile

(Free Report)

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.

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

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