Chevy Chase Trust Holdings LLC Sells 1,339 Shares of DTE Energy (NYSE:DTE)

Chevy Chase Trust Holdings LLC lessened its stake in DTE Energy (NYSE:DTE) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,201 shares of the utilities provider’s stock after selling 1,339 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in DTE Energy were worth $12,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grayhawk Investment Strategies Inc. bought a new stake in shares of DTE Energy during the 4th quarter valued at about $1,305,000. Intech Investment Management LLC raised its position in DTE Energy by 62.7% in the fourth quarter. Intech Investment Management LLC now owns 26,421 shares of the utilities provider’s stock worth $2,913,000 after acquiring an additional 10,180 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of DTE Energy by 407.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,715 shares of the utilities provider’s stock worth $1,202,000 after acquiring an additional 8,603 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of DTE Energy by 66.5% during the 4th quarter. Allianz Asset Management GmbH now owns 29,575 shares of the utilities provider’s stock worth $3,261,000 after acquiring an additional 11,809 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of DTE Energy by 9.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 124,264 shares of the utilities provider’s stock valued at $13,934,000 after acquiring an additional 11,218 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Stock Up 0.5 %

Shares of DTE stock traded up $0.58 during trading hours on Wednesday, reaching $123.51. 198,131 shares of the company’s stock were exchanged, compared to its average volume of 1,085,942. DTE Energy has a 1 year low of $90.14 and a 1 year high of $126.76. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The stock has a market cap of $25.56 billion, a PE ratio of 20.12, a PEG ratio of 2.27 and a beta of 0.66. The stock’s fifty day moving average price is $115.44 and its two-hundred day moving average price is $112.20.

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

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

Analyst Upgrades and Downgrades

DTE has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Scotiabank increased their price objective on shares of DTE Energy from $120.00 to $137.00 and gave the company a “sector outperform” rating in a research report on Tuesday. LADENBURG THALM/SH SH assumed coverage on DTE Energy in a report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 target price for the company. Morgan Stanley decreased their price target on DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, Wells Fargo & Company raised their price objective on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and an average target price of $121.91.

Insider Buying and Selling

In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, 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 available through this link. In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lisa A. Muschong sold 1,198 shares of the business’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 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. Corporate insiders own 0.61% of the company’s stock.

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.