Royal London Asset Management Ltd. Has $5.14 Million Stake in DTE Energy (NYSE:DTE)

Royal London Asset Management Ltd. increased its position in shares of DTE Energy (NYSE:DTE) by 15.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,634 shares of the utilities provider’s stock after buying an additional 6,108 shares during the period. Royal London Asset Management Ltd.’s holdings in DTE Energy were worth $5,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors lifted its stake in DTE Energy by 1.9% in the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock valued at $2,308,076,000 after buying an additional 399,646 shares during the period. 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 valued at $509,081,000 after purchasing an additional 724,561 shares in the last quarter. Boston Partners raised its holdings in shares of DTE Energy by 66.8% during the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after purchasing an additional 1,018,212 shares during the period. Invesco Ltd. grew its stake in shares of DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock valued at $221,314,000 after buying an additional 137,960 shares during the period. Finally, Northern Trust Corp increased its position in DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock valued at $190,937,000 after buying an additional 27,891 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Stock Performance

DTE traded down $0.40 during trading on Friday, hitting $112.14. 766,328 shares of the company traded hands, compared to its average volume of 873,865. DTE Energy has a one year low of $90.14 and a one year high of $117.44. The stock’s fifty day moving average is $112.11 and its 200 day moving average is $109.70. 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 $23.21 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:DTE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. As a group, equities analysts predict 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. Investors of record on Monday, June 17th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio (DPR) is currently 66.78%.

Wall Street Analyst Weigh In

DTE has been the subject of several recent research reports. Morgan Stanley boosted their price objective on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Scotiabank cut their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets increased their price objective on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.44.

Insider Buying and Selling at DTE Energy

In related news, COO Mark W. Stiers sold 10,000 shares of the 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 of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the sale, the insider now owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The shares were 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 of the company’s stock, valued at $4,862,836. The disclosure for this sale can be found here. Insiders have sold a total of 14,698 shares of company stock valued at $1,702,444 over the last three months. 0.61% of the stock is currently owned by insiders.

DTE Energy 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.