City Holding Co. Buys 1,080 Shares of DTE Energy (NYSE:DTE)

City Holding Co. boosted its stake in shares of DTE Energy (NYSE:DTE) by 14.8% in the first quarter, HoldingsChannel reports. The firm owned 8,402 shares of the utilities provider’s stock after purchasing an additional 1,080 shares during the quarter. City Holding Co.’s holdings in DTE Energy were worth $942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aviva PLC boosted its position in shares of DTE Energy by 10.5% in the third quarter. Aviva PLC now owns 3,156 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 300 shares during the period. Kestra Advisory Services LLC boosted its position in shares of DTE Energy by 8.3% in the third quarter. Kestra Advisory Services LLC now owns 14,691 shares of the utilities provider’s stock valued at $1,459,000 after acquiring an additional 1,128 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of DTE Energy in the third quarter valued at about $283,000. Envestnet Asset Management Inc. boosted its position in shares of DTE Energy by 17.8% in the third quarter. Envestnet Asset Management Inc. now owns 72,455 shares of the utilities provider’s stock valued at $7,193,000 after acquiring an additional 10,964 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of DTE Energy by 37.2% in the third quarter. Hsbc Holdings PLC now owns 257,157 shares of the utilities provider’s stock valued at $25,472,000 after acquiring an additional 69,786 shares during the period. 76.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction that occurred 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 directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value of $402,745.00. Following the transaction, the insider now directly owns 59,475 shares in the company, valued at approximately $6,843,788.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief operating officer now owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,698 shares of company stock worth $1,702,444. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Morgan Stanley upped their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Scotiabank cut their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. KeyCorp upped their price objective on shares of DTE Energy from $117.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $115.44.

DTE Energy Trading Up 1.3 %

Shares of DTE Energy stock traded up $1.39 on Monday, hitting $112.30. The stock had a trading volume of 29,465 shares, compared to its average volume of 1,110,786. The stock has a 50 day moving average of $112.42 and a 200 day moving average of $109.88. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. 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 $23.24 billion, a P/E ratio of 18.22, a PEG ratio of 2.02 and a beta of 0.67.

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

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

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.