Mediolanum International Funds Ltd Invests $7.83 Million in DTE Energy (NYSE:DTE)

Mediolanum International Funds Ltd acquired a new position in shares of DTE Energy (NYSE:DTE) in the 1st quarter, HoldingsChannel reports. The firm acquired 70,329 shares of the utilities provider’s stock, valued at approximately $7,828,000.

Several other hedge funds also recently modified their holdings of the company. PBMares Wealth Management LLC increased its holdings in shares of DTE Energy by 4.5% during the fourth quarter. PBMares Wealth Management LLC now owns 2,301 shares of the utilities provider’s stock worth $254,000 after buying an additional 100 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in shares of DTE Energy by 2.2% during the first quarter. Center for Financial Planning Inc. now owns 4,972 shares of the utilities provider’s stock worth $558,000 after buying an additional 105 shares in the last quarter. ASB Consultores LLC increased its holdings in shares of DTE Energy by 5.6% during the third quarter. ASB Consultores LLC now owns 2,135 shares of the utilities provider’s stock worth $212,000 after buying an additional 114 shares in the last quarter. Secure Asset Management LLC increased its holdings in shares of DTE Energy by 1.7% during the fourth quarter. Secure Asset Management LLC now owns 7,688 shares of the utilities provider’s stock worth $848,000 after buying an additional 127 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of DTE Energy by 0.3% during the first quarter. Retirement Systems of Alabama now owns 45,568 shares of the utilities provider’s stock worth $5,110,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Buying and Selling at DTE Energy

In other news, COO Mark W. Stiers sold 10,000 shares of the company’s 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 owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the stock in a transaction 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 transaction, the insider now directly owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at $4,862,836. The disclosure for this sale can be found here. Insiders sold 14,698 shares of company stock valued at $1,702,444 in the last quarter. Company insiders own 0.28% of the company’s stock.

DTE Energy Trading Up 0.4 %

DTE stock traded up $0.41 during midday trading on Wednesday, reaching $109.08. The company’s stock had a trading volume of 1,021,112 shares, compared to its average volume of 1,102,120. DTE Energy has a 52 week low of $90.14 and a 52 week high of $117.44. The stock has a market cap of $22.57 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.99 and a beta of 0.66. 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 business’s 50-day simple moving average is $112.77 and its 200-day simple moving average is $109.87.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.53%. As a group, sell-side analysts expect that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

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. This represents a $4.08 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DTE. Morgan Stanley lowered their price target on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Scotiabank lowered their price target on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. KeyCorp raised 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. BMO Capital Markets raised 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. Finally, Barclays raised their price target on shares of DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. One 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. According to data from MarketBeat.com, DTE Energy has an average rating of “Hold” and an average price target of $115.67.

DTE Energy Profile

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.