Adirondack Trust Co. Reduces Stake in DTE Energy (NYSE:DTE)

Adirondack Trust Co. lessened its holdings in DTE Energy (NYSE:DTE) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,010 shares of the utilities provider’s stock after selling 315 shares during the quarter. Adirondack Trust Co.’s holdings in DTE Energy were worth $109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MV Capital Management Inc. increased its holdings in DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after buying an additional 143 shares during the period. Creekmur Asset Management LLC acquired a new position in DTE Energy in the 4th quarter worth approximately $53,000. Principal Securities Inc. acquired a new stake in shares of DTE Energy during the 4th quarter worth approximately $54,000. Quarry LP acquired a new stake in shares of DTE Energy during the 4th quarter worth approximately $63,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of DTE Energy by 533.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 773 shares of the utilities provider’s stock worth $85,000 after purchasing an additional 651 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Trading Down 0.2 %

Shares of DTE stock opened at $110.57 on Wednesday. The stock’s fifty day moving average is $112.15 and its two-hundred day moving average is $109.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. The firm has a market capitalization of $22.88 billion, a P/E ratio of 18.10, a PEG ratio of 2.02 and a beta of 0.67. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $117.44.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Research analysts expect that DTE Energy will post 6.7 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 annualized dividend and a dividend yield of 3.69%. DTE Energy’s dividend payout ratio is presently 66.78%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DTE shares. Barclays raised their price objective on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Scotiabank decreased their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets increased their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley increased their target price on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Hold” and an average target price of $115.44.

Insider Transactions at DTE Energy

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the sale, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The disclosure for this sale can be found here. Insiders have sold a total of 14,698 shares of company stock worth $1,702,444 in the last quarter. Company insiders own 0.28% of the company’s stock.

About DTE Energy

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.