Intrust Bank NA Purchases 338 Shares of DTE Energy Company (NYSE:DTE)

Intrust Bank NA lifted its position in DTE Energy Company (NYSE:DTE) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,667 shares of the utilities provider’s stock after buying an additional 338 shares during the period. Intrust Bank NA’s holdings in DTE Energy were worth $1,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. iA Global Asset Management Inc. purchased a new position in DTE Energy in the 1st quarter worth approximately $393,000. Empower Advisory Group LLC bought a new stake in shares of DTE Energy in the 1st quarter worth $255,000. Bank of Nova Scotia raised its stake in shares of DTE Energy by 26.8% in the first quarter. Bank of Nova Scotia now owns 94,631 shares of the utilities provider’s stock worth $13,085,000 after purchasing an additional 19,995 shares during the last quarter. R Squared Ltd bought a new position in shares of DTE Energy during the first quarter valued at $413,000. Finally, Banco Santander S.A. boosted its position in shares of DTE Energy by 3.0% during the first quarter. Banco Santander S.A. now owns 41,272 shares of the utilities provider’s stock valued at $5,707,000 after buying an additional 1,212 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of DTE Energy from $136.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $145.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Citigroup restated a “buy” rating and issued a $151.00 target price (up previously from $142.00) on shares of DTE Energy in a report on Friday, May 23rd. Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Barclays raised their price target on DTE Energy from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.53.

DTE Energy Stock Performance

NYSE:DTE opened at $139.18 on Thursday. The stock has a 50-day moving average price of $134.66 and a 200 day moving average price of $132.66. The stock has a market capitalization of $28.89 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.77 and a beta of 0.42. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $141.54. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 1.96.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.67 billion. DTE Energy had a return on equity of 12.72% and a net margin of 10.16%. Equities research analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DTE Energy’s dividend payout ratio (DPR) is currently 62.73%.

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.