Trade Report: Today, DTE Energy Co. (DTE) Chairman Sold $1,406,100.00 in Stock

Today, DTE Energy Co. (DTE) Chairman Sold $1,406,100.00 in Stock

DTE Energy Co. (NYSE:DTE) Chairman Gerard M. Anderson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $93.74, for a total transaction of $1,406,100.00. Following the transaction, the chairman now directly owns 90,000 shares in the company, valued at approximately $8,436,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

DTE Energy Co. (NYSE:DTE) opened at 92.66 on Friday. The firm has a market capitalization of $16.63 billion, a PE ratio of 20.39 and a beta of 0.19. DTE Energy Co. has a one year low of $77.35 and a one year high of $100.45. The firm has a 50 day moving average of $92.86 and a 200 day moving average of $94.02.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.54. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.62 billion. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. Equities analysts forecast that DTE Energy Co. will post $5.28 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be given a dividend of $0.825 per share. This is an increase from DTE Energy’s previous quarterly dividend of $0.77. This represents a $3.30 annualized dividend and a yield of 3.56%. DTE Energy’s dividend payout ratio is 67.84%.

DTE has been the topic of several recent research reports. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Wednesday, September 28th. KeyCorp set a $105.00 price objective on shares of DTE Energy and gave the stock a “buy” rating in a research note on Monday, September 12th. Macquarie lifted their price objective on shares of DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 27th. Jefferies Group initiated coverage on shares of DTE Energy in a research note on Monday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Finally, Bank of America Corp. raised shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. DTE Energy currently has an average rating of “Buy” and a consensus target price of $102.57.

A number of hedge funds and other institutional investors have recently modified their holdings of DTE. Cohen & Steers Inc. increased its position in shares of DTE Energy by 3,866.0% in the second quarter. Cohen & Steers Inc. now owns 19,761,823 shares of the company’s stock valued at $610,245,000 after buying an additional 19,263,546 shares during the period. Vanguard Group Inc. increased its position in shares of DTE Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,705,663 shares of the company’s stock valued at $1,655,866,000 after buying an additional 496,138 shares during the period. BlackRock Fund Advisors increased its position in shares of DTE Energy by 3.2% in the third quarter. BlackRock Fund Advisors now owns 6,285,260 shares of the company’s stock valued at $588,740,000 after buying an additional 192,703 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of DTE Energy by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,359,955 shares of the company’s stock valued at $502,067,000 after buying an additional 196,967 shares during the period. Finally, FMR LLC increased its position in shares of DTE Energy by 0.9% in the second quarter. FMR LLC now owns 3,138,411 shares of the company’s stock valued at $311,079,000 after buying an additional 27,955 shares during the period. Institutional investors and hedge funds own 66.02% of the company’s stock.

About DTE Energy

DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.

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