Procyon Advisors LLC Makes New $1.03 Million Investment in DTE Energy (NYSE:DTE)

Procyon Advisors LLC bought a new position in shares of DTE Energy (NYSE:DTE) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,206 shares of the utilities provider’s stock, valued at approximately $1,032,000.

Other hedge funds have also modified their holdings of the company. PBMares Wealth Management LLC lifted its holdings in shares of DTE Energy by 4.5% in the 4th quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock valued at $254,000 after buying an additional 100 shares during the period. ASB Consultores LLC raised its position in DTE Energy by 5.6% in the third quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 114 shares during the period. Secure Asset Management LLC boosted its stake in shares of DTE Energy by 1.7% in the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 127 shares during the period. Executive Wealth Management LLC grew its stake in shares of DTE Energy by 0.6% during the fourth quarter. Executive Wealth Management LLC now owns 21,652 shares of the utilities provider’s stock valued at $2,387,000 after acquiring an additional 128 shares in the last quarter. Finally, Rise Advisors LLC increased its holdings in DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 129 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DTE Energy

In related news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction dated 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 approximately $498,041.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was 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 directly owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The disclosure for this sale can be found here. Insiders have sold 14,698 shares of company stock valued at $1,702,444 over the last quarter. 0.61% of the stock is currently owned by company insiders.

DTE Energy Price Performance

Shares of DTE traded up $0.80 during midday trading on Thursday, hitting $111.25. 669,353 shares of the company traded hands, compared to its average volume of 1,113,325. The stock has a 50-day moving average of $112.81 and a 200-day moving average of $109.93. The firm has a market cap of $23.02 billion, a P/E ratio of 18.22, a PEG ratio of 2.00 and a beta of 0.67. DTE Energy has a one year low of $90.14 and a one year high of $117.44. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54.

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 the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. As a group, sell-side analysts predict that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 3.67%. DTE Energy’s payout ratio is 66.78%.

Analysts Set New Price Targets

DTE has been the subject of a number of research analyst reports. KeyCorp boosted their price target on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. TheStreet raised shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Morgan Stanley reduced their price objective on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets raised their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. increased their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, DTE Energy currently has a consensus rating of “Hold” and a consensus target price of $115.67.

About DTE Energy

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.