Traders Buy Shares of DTE Energy (DTE) on Weakness

Traders bought shares of DTE Energy Co (NYSE:DTE) on weakness during trading on Monday. $31.91 million flowed into the stock on the tick-up and $19.39 million flowed out of the stock on the tick-down, for a money net flow of $12.52 million into the stock. Of all companies tracked, DTE Energy had the 23rd highest net in-flow for the day. DTE Energy traded down ($2.07) for the day and closed at $111.16

DTE has been the subject of a number of research reports. KeyCorp reaffirmed a “buy” rating and set a $113.00 price target on shares of DTE Energy in a research note on Sunday, August 27th. Credit Suisse Group decreased their price target on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Bank of America initiated coverage on DTE Energy in a research note on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price target for the company. Jefferies Group reaffirmed a “buy” rating and set a $121.00 price target on shares of DTE Energy in a research note on Tuesday, August 29th. Finally, BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $112.19.

The firm has a market cap of $19,941.03, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 3.34 and a beta of 0.23. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.05). The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $2.80 billion. DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. analysts anticipate that DTE Energy Co will post 5.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.8825 per share. The ex-dividend date is Friday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.53 annualized dividend and a dividend yield of 3.24%. DTE Energy’s dividend payout ratio (DPR) is currently 64.65%.

In other news, Chairman Gerard M. Anderson sold 12,389 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the sale, the chairman now directly owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its position in shares of DTE Energy by 3.2% in the third quarter. Parametric Portfolio Associates LLC now owns 494,752 shares of the utilities provider’s stock worth $53,117,000 after buying an additional 15,317 shares during the period. AXA boosted its position in shares of DTE Energy by 0.8% in the third quarter. AXA now owns 167,991 shares of the utilities provider’s stock worth $18,036,000 after buying an additional 1,391 shares during the period. Shelton Capital Management boosted its position in shares of DTE Energy by 161.9% in the third quarter. Shelton Capital Management now owns 54,358 shares of the utilities provider’s stock worth $5,836,000 after buying an additional 33,600 shares during the period. IFM Investors Pty Ltd acquired a new stake in shares of DTE Energy in the third quarter worth $552,000. Finally, Neuberger Berman Group LLC boosted its position in shares of DTE Energy by 18.5% in the third quarter. Neuberger Berman Group LLC now owns 918,521 shares of the utilities provider’s stock worth $98,612,000 after buying an additional 143,134 shares during the period. 68.31% of the stock is owned by institutional investors and hedge funds.

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