Miller Howard Investments Inc. NY Reduces Position in DTE Energy (NYSE:DTE)

Miller Howard Investments Inc. NY cut its stake in shares of DTE Energy (NYSE:DTE) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,286 shares of the utilities provider’s stock after selling 2,411 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in DTE Energy were worth $1,378,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its holdings in DTE Energy by 89.6% in the first quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 129 shares during the last quarter. MV Capital Management Inc. boosted its holdings in DTE Energy by 104.4% in the fourth quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 143 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in DTE Energy in the fourth quarter valued at $53,000. Principal Securities Inc. purchased a new stake in DTE Energy in the fourth quarter valued at $54,000. Finally, Quarry LP purchased a new stake in DTE Energy in the fourth quarter valued at $63,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $116.00, for a total value of $1,160,000.00. Following the completion of the sale, the chief operating officer now owns 41,921 shares in the company, valued at approximately $4,862,836. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Lisa A. Muschong sold 1,198 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total value of $139,698.78. Following the completion of the sale, the vice president now owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 14,698 shares of company stock worth $1,702,444. Insiders own 0.28% of the company’s stock.

DTE Energy Stock Up 1.7 %

DTE opened at $112.80 on Tuesday. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. The company has a 50-day moving average price of $112.57 and a 200 day moving average price of $109.92. The company has a market cap of $23.34 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.02 and a beta of 0.67.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion during 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 3.62%. DTE Energy’s payout ratio is 66.78%.

Analysts Set New Price Targets

Several equities research analysts have commented on DTE shares. BMO Capital Markets upped their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. 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. Scotiabank decreased 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. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Finally, Morgan Stanley decreased their price objective on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Hold” and a consensus price target of $115.67.

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.