Traders Buy Shares of DTE Energy (DTE) on Weakness

Traders bought shares of DTE Energy Co (NYSE:DTE) on weakness during trading hours on Wednesday. $75.70 million flowed into the stock on the tick-up and $22.24 million flowed out of the stock on the tick-down, for a money net flow of $53.46 million into the stock. Of all companies tracked, DTE Energy had the 21st highest net in-flow for the day. DTE Energy traded down ($1.04) for the day and closed at $104.64

DTE has been the subject of a number of research analyst reports. Guggenheim reissued a “buy” rating and set a $121.00 price target on shares of DTE Energy in a research note on Wednesday, January 3rd. KeyCorp reissued a “buy” rating and set a $118.50 price target on shares of DTE Energy in a research note on Friday, December 15th. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research note on Monday. Credit Suisse Group decreased their target price on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. Finally, Bank of America started coverage on DTE Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. DTE Energy presently has an average rating of “Buy” and a consensus price target of $114.72.

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market capitalization of $18,770.00, a PE ratio of 19.13, a price-to-earnings-growth ratio of 3.09 and a beta of 0.23.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Monday, December 18th will be given 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 dividend on an annualized basis and a yield of 3.37%. DTE Energy’s payout ratio is 64.53%.

In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of DTE Energy 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its position in shares of DTE Energy by 150.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 19,796 shares of the utilities provider’s stock worth $2,167,000 after acquiring an additional 11,901 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of DTE Energy by 3.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 494,752 shares of the utilities provider’s stock worth $53,117,000 after acquiring an additional 15,317 shares in the last quarter. AXA raised its position in shares of DTE Energy by 0.8% in the 3rd quarter. AXA now owns 167,991 shares of the utilities provider’s stock worth $18,036,000 after acquiring an additional 1,391 shares in the last quarter. Shelton Capital Management raised its position in shares of DTE Energy by 161.9% in the 3rd quarter. Shelton Capital Management now owns 54,358 shares of the utilities provider’s stock worth $5,836,000 after acquiring an additional 33,600 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new position in shares of DTE Energy in the 3rd quarter worth $552,000. 68.31% of the stock is owned by hedge funds and other institutional investors.

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