Royal Fund Management LLC Acquires Shares of 693 DTE Energy Co (NYSE:DTE)

Royal Fund Management LLC purchased a new position in DTE Energy Co (NYSE:DTE) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 693 shares of the utilities provider’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors boosted its position in shares of DTE Energy by 4.6% in the 4th quarter. Capital World Investors now owns 19,247,087 shares of the utilities provider’s stock worth $2,499,619,000 after purchasing an additional 838,131 shares in the last quarter. BlackRock Inc. boosted its position in shares of DTE Energy by 2.2% in the 1st quarter. BlackRock Inc. now owns 17,008,450 shares of the utilities provider’s stock worth $1,615,291,000 after purchasing an additional 359,455 shares in the last quarter. State Street Corp boosted its position in shares of DTE Energy by 2.9% in the 4th quarter. State Street Corp now owns 10,160,610 shares of the utilities provider’s stock worth $1,329,552,000 after purchasing an additional 287,268 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of DTE Energy by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 3,147,168 shares of the utilities provider’s stock worth $407,941,000 after purchasing an additional 233,693 shares in the last quarter. Finally, Boston Partners raised its holdings in DTE Energy by 4.2% in the 4th quarter. Boston Partners now owns 2,069,728 shares of the utilities provider’s stock worth $268,787,000 after acquiring an additional 84,275 shares during the last quarter. 71.91% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on DTE. JPMorgan Chase & Co. decreased their price objective on shares of DTE Energy from $140.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Citigroup upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $117.00 price objective for the company in a report on Thursday, April 2nd. Credit Suisse Group decreased their price objective on shares of DTE Energy from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. UBS Group decreased their price objective on shares of DTE Energy from $150.00 to $126.00 and set a “buy” rating for the company in a report on Monday, March 16th. Finally, Evercore ISI upgraded shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 price objective for the company in a report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $125.92.

Shares of DTE opened at $102.12 on Friday. The firm has a market cap of $19.46 billion, a PE ratio of 17.37, a P/E/G ratio of 2.81 and a beta of 0.60. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.43. The firm has a fifty day simple moving average of $101.17 and a two-hundred day simple moving average of $117.03. DTE Energy Co has a 1-year low of $71.21 and a 1-year high of $135.67.

DTE Energy (NYSE:DTE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.45 billion. DTE Energy had a net margin of 9.10% and a return on equity of 9.82%. During the same quarter in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts forecast that DTE Energy Co will post 6.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $1.013 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $4.05 annualized dividend and a dividend yield of 3.97%. DTE Energy’s dividend payout ratio (DPR) is 64.29%.

In other news, SVP Joann Chavez sold 400 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $101.93, for a total value of $40,772.00. Following the completion of the sale, the senior vice president now directly owns 5,300 shares in the company, valued at approximately $540,229. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter B. Oleksiak sold 1,800 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $134.94, for a total value of $242,892.00. Following the completion of the sale, the chief financial officer now owns 49,034 shares of the company’s stock, valued at $6,616,647.96. The disclosure for this sale can be found here. Corporate insiders own 0.57% 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 approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

Recommended Story: What does earnings per share mean?

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Co (NYSE:DTE).

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

Receive News & Ratings for DTE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy and related companies with MarketBeat.com's FREE daily email newsletter.