Fulton Bank N.A. Acquires 267 Shares of DTE Energy (NYSE:DTE)

Fulton Bank N.A. boosted its holdings in shares of DTE Energy (NYSE:DTE) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,361 shares of the utilities provider’s stock after purchasing an additional 267 shares during the quarter. Fulton Bank N.A.’s holdings in DTE Energy were worth $1,705,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DTE. Capital Research Global Investors increased its stake in DTE Energy by 1.2% in the 1st quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after buying an additional 261,623 shares during the period. Boston Partners increased its position in DTE Energy by 66.8% during the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock valued at $280,247,000 after buying an additional 1,018,212 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock valued at $284,623,000 after acquiring an additional 1,756,459 shares in the last quarter. Janus Henderson Group PLC increased its stake in DTE Energy by 6,964.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock valued at $234,410,000 after purchasing an additional 2,060,762 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in DTE Energy by 2.4% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling at DTE Energy

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s 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 transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Lisa A. Muschong sold 1,198 shares of DTE Energy stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares in the company, valued at approximately $498,041.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The disclosure for this sale can be found here. Insiders have sold a total of 14,698 shares of company stock worth $1,702,444 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

DTE Energy Trading Up 0.2 %

Shares of DTE stock traded up $0.28 on Tuesday, hitting $119.07. The stock had a trading volume of 1,250,796 shares, compared to its average volume of 1,101,998. The company’s 50 day moving average price is $113.84 and its 200-day moving average price is $110.90. DTE Energy has a 1 year low of $90.14 and a 1 year high of $126.76. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52. The firm has a market capitalization of $24.64 billion, a P/E ratio of 19.57, a P/E/G ratio of 2.27 and a beta of 0.66.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. Analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Analysts Set New Price Targets

A number of research firms have issued reports on DTE. Wells Fargo & Company raised their price target on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley reduced their target price on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. KeyCorp lifted their price objective on DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Barclays increased their target price on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets lifted their price objective on DTE Energy from $120.00 to $123.00 and gave the stock a “market perform” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $119.30.

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.