Magnetar Financial LLC Invests $756,000 in DTE Energy (NYSE:DTE)

Magnetar Financial LLC acquired a new stake in DTE Energy (NYSE:DTE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,740 shares of the utilities provider’s stock, valued at approximately $756,000.

Several other hedge funds have also recently added to or reduced their stakes in DTE. Clearbridge Investments LLC increased its stake in shares of DTE Energy by 224.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after purchasing an additional 1,756,459 shares in the last quarter. Boston Partners increased its position in DTE Energy by 66.8% during the fourth quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after buying an additional 1,018,212 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in DTE Energy during the fourth quarter worth $74,478,000. Capital Research Global Investors raised its holdings in shares of DTE Energy by 1.9% in the fourth quarter. Capital Research Global Investors now owns 20,933,030 shares of the utilities provider’s stock worth $2,308,076,000 after acquiring an additional 399,646 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of DTE Energy by 109.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 555,072 shares of the utilities provider’s stock valued at $61,202,000 after acquiring an additional 289,663 shares in the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DTE. BMO Capital Markets upped their target price on shares of DTE Energy from $120.00 to $123.00 and gave the company a “market perform” rating in a report on Monday, July 15th. Morgan Stanley reduced their price target on shares of DTE Energy from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Scotiabank cut their target price on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company increased their price target on DTE Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday. Finally, KeyCorp increased their target price on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $118.40.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $0.09 during trading on Monday, hitting $118.28. 28,041 shares of the stock were exchanged, compared to its average volume of 1,095,115. The stock has a market cap of $24.48 billion, a PE ratio of 19.34, a P/E/G ratio of 2.15 and a beta of 0.66. The stock’s fifty day moving average is $113.05 and its 200 day moving average is $110.32. DTE Energy has a 12 month low of $90.14 and a 12 month high of $120.54. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.69.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business earned $0.99 earnings per share. As a group, sell-side analysts anticipate that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio is currently 66.78%.

Insider Buying and Selling at DTE Energy

In related news, VP Lisa A. Muschong sold 1,198 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $116.61, for a total transaction of $139,698.78. Following the transaction, the vice president now owns 4,271 shares in the company, valued at $498,041.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Lisa A. Muschong sold 1,198 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $116.61, for a total value of $139,698.78. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of the company’s stock in a transaction 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 completion of the sale, 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 90 days, insiders have sold 14,698 shares of company stock valued at $1,702,444. Company insiders own 0.61% of the company’s stock.

DTE Energy Company 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.