State of Michigan Retirement System Has $6.35 Million Stock Position in DTE Energy (NYSE:DTE)

State of Michigan Retirement System lifted its holdings in DTE Energy (NYSE:DTE) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,577 shares of the utilities provider’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in DTE Energy were worth $6,345,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DTE. Founders Financial Securities LLC acquired a new stake in shares of DTE Energy in the first quarter valued at about $802,000. Foguth Wealth Management LLC. bought a new stake in DTE Energy in the first quarter valued at approximately $255,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of DTE Energy by 15.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,990 shares of the utilities provider’s stock valued at $1,569,000 after buying an additional 1,911 shares during the last quarter. Procyon Advisors LLC bought a new position in shares of DTE Energy during the 1st quarter worth approximately $1,032,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of DTE Energy during the 1st quarter worth approximately $225,000. Institutional investors own 76.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on DTE shares. JPMorgan Chase & Co. lifted 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. KeyCorp increased their price target on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, May 20th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Barclays increased their target price on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Scotiabank reduced their price target on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DTE Energy currently has a consensus rating of “Hold” and a consensus price target of $115.67.

Insider Transactions at DTE Energy

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 in the company, valued at approximately $6,843,788.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $116.61, for a total transaction of $139,698.78. Following the sale, the vice president now directly owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total transaction of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares of the company’s stock, valued at approximately $6,843,788.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,698 shares of company stock valued at $1,702,444. Corporate insiders own 0.28% of the company’s stock.

DTE Energy Stock Up 0.3 %

Shares of NYSE DTE opened at $109.40 on Wednesday. The stock has a market capitalization of $22.64 billion, a P/E ratio of 17.91, a PEG ratio of 2.02 and a beta of 0.66. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy has a 52 week low of $90.14 and a 52 week high of $117.44. The stock’s fifty day moving average is $112.94 and its 200 day moving average is $109.90.

DTE Energy (NYSE:DTE) last issued its quarterly 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 the consensus estimate of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. Sell-side analysts forecast that DTE Energy will post 6.69 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. Stockholders of record on Monday, September 16th will be issued a dividend of $1.02 per share. The ex-dividend date is Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.73%. DTE Energy’s dividend payout ratio (DPR) is currently 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.