DTE Energy (NYSE:DTE) Vice Chairman Sells $678,550.00 in Stock

DTE Energy Company (NYSE:DTE) Vice Chairman Trevor Lauer sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $135.71, for a total transaction of $678,550.00. Following the completion of the sale, the insider directly owned 73,122 shares in the company, valued at approximately $9,923,386.62. This represents a 6.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

DTE Energy Trading Up 0.7%

DTE traded up $0.90 during midday trading on Thursday, hitting $136.95. 218,015 shares of the company were exchanged, compared to its average volume of 1,411,241. The firm’s 50 day moving average price is $144.18 and its 200-day moving average price is $145.30. DTE Energy Company has a 1-year low of $126.23 and a 1-year high of $155.74. The firm has a market capitalization of $28.50 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.96 and a beta of 0.37. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 2.13.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. DTE Energy had a return on equity of 12.19% and a net margin of 8.00%.The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the company earned $1.36 earnings per share. As a group, equities analysts forecast that DTE Energy Company will post 7.71 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a $1.165 dividend. This represents a $4.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 21st. DTE Energy’s payout ratio is presently 73.73%.

Hedge Funds Weigh In On DTE Energy

Hedge funds have recently added to or reduced their stakes in the stock. Elyxium Wealth LLC purchased a new position in shares of DTE Energy during the fourth quarter valued at approximately $29,000. Key Financial Inc bought a new position in DTE Energy during the first quarter valued at about $29,000. First Bancorp Inc ME purchased a new stake in shares of DTE Energy during the 2nd quarter worth approximately $29,000. SHP Wealth Management purchased a new stake in DTE Energy in the fourth quarter worth $35,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in DTE Energy in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DTE. Weiss Ratings upgraded shares of DTE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Truist Financial cut their price objective on shares of DTE Energy from $166.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on DTE Energy from $155.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Mizuho dropped their price target on DTE Energy from $164.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday, August 27th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price objective on shares of DTE Energy in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.00.

About DTE Energy

DTE Energy is an integrated energy company headquartered in Detroit, Michigan, that combines regulated utility operations with non-utility energy businesses. Its regulated subsidiaries operate electric and natural gas utility services that deliver generation, transmission and distribution to residential, commercial and industrial customers. The company’s utility segment focuses on maintaining and upgrading energy delivery infrastructure, ensuring reliable service and meeting regulatory requirements in its service territory.

Beyond its regulated utilities, DTE Energy operates non-utility businesses that develop, own and operate power generation and energy-related projects.