American National Bank Buys 468 Shares of DTE Energy (NYSE:DTE)

American National Bank boosted its position in DTE Energy (NYSE:DTE) by 56.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290 shares of the utilities provider’s stock after buying an additional 468 shares during the period. American National Bank’s holdings in DTE Energy were worth $143,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of DTE Energy during the fourth quarter worth approximately $6,606,000. Louisiana State Employees Retirement System acquired a new position in DTE Energy during the fourth quarter worth $1,378,000. SVB Wealth LLC acquired a new position in shares of DTE Energy during the fourth quarter valued at about $220,000. Daiwa Securities Group Inc. increased its position in shares of DTE Energy by 6.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,414 shares of the utilities provider’s stock worth $2,030,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of DTE Energy by 27.0% in the 4th quarter. Federated Hermes Inc. now owns 1,100 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 234 shares during the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Vice Chairman Trevor F. Lauer sold 3,500 shares of the business’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 owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Lisa A. Muschong sold 1,198 shares of the 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 owns 4,271 shares of the company’s stock, valued at approximately $498,041.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total value 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. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. KeyCorp lifted their price target on DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lowered their price target on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 11th. Wells Fargo & Company boosted their price target on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Barclays increased their price objective on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.91.

DTE Energy Stock Performance

Shares of NYSE:DTE traded down $0.48 during mid-day trading on Thursday, reaching $122.84. The company had a trading volume of 468,930 shares, compared to its average volume of 1,084,485. DTE Energy has a one year low of $90.14 and a one year high of $126.76. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. The company’s 50-day moving average price is $115.65 and its 200-day moving average price is $112.27. The firm has a market cap of $25.42 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.27 and a beta of 0.66.

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

DTE Energy Announces Dividend

The company 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 $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio 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.