Summit Global Investments Decreases Position in DTE Energy (NYSE:DTE)

Summit Global Investments lessened its holdings in shares of DTE Energy (NYSE:DTE) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,202 shares of the utilities provider’s stock after selling 987 shares during the period. Summit Global Investments’ holdings in DTE Energy were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Center for Financial Planning Inc. increased its stake in DTE Energy by 2.2% in the first quarter. Center for Financial Planning Inc. now owns 4,972 shares of the utilities provider’s stock valued at $558,000 after purchasing an additional 105 shares during the last quarter. TIAA Trust National Association raised its stake in DTE Energy by 2.9% during the 1st quarter. TIAA Trust National Association now owns 3,771 shares of the utilities provider’s stock worth $423,000 after acquiring an additional 106 shares in the last quarter. S.A. Mason LLC raised its stake in DTE Energy by 10.5% during the 2nd quarter. S.A. Mason LLC now owns 1,120 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 106 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in DTE Energy by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,908 shares of the utilities provider’s stock valued at $4,700,000 after acquiring an additional 107 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of DTE Energy by 0.3% during the first quarter. Retirement Systems of Alabama now owns 45,568 shares of the utilities provider’s stock worth $5,110,000 after purchasing an additional 127 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DTE Energy

In other DTE Energy 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 transaction, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s 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 completion of the sale, 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 document filed with the SEC, which is available through the SEC website. Also, 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 value of $402,745.00. Following the sale, the insider now directly owns 59,475 shares in the company, valued at $6,843,788.25. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

Shares of DTE traded down $0.34 during mid-day trading on Tuesday, reaching $122.93. 539,061 shares of the company’s stock were exchanged, compared to its average volume of 1,091,491. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 1.73. The company has a 50-day simple moving average of $115.44 and a two-hundred day simple moving average of $112.20. The company has a market cap of $25.44 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.27 and a beta of 0.66. DTE Energy has a 52-week low of $90.14 and a 52-week high of $126.76.

DTE Energy (NYSE:DTE) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.22. DTE Energy had a return on equity of 12.18% and a net margin of 11.18%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.99 earnings per share. On average, sell-side analysts predict that DTE Energy will post 6.7 EPS for the current fiscal year.

DTE Energy Announces Dividend

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 given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is presently 66.78%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. BMO Capital Markets lifted their target price on DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a research note on Monday, July 15th. KeyCorp boosted their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, Scotiabank increased their price target on DTE Energy from $120.00 to $137.00 and gave the stock a “sector outperform” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.91.

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.