DTE Energy (NYSE:DTE) Holdings Decreased by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in DTE Energy (NYSE:DTE) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,095,850 shares of the utilities provider’s stock after selling 16,829 shares during the period. Franklin Resources Inc.’s holdings in DTE Energy were worth $231,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Glenmede Trust Co. NA grew its stake in shares of DTE Energy by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 129,083 shares of the utilities provider’s stock worth $12,815,000 after purchasing an additional 1,106 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of DTE Energy by 6.5% in the fourth quarter. Raymond James & Associates now owns 209,488 shares of the utilities provider’s stock valued at $23,098,000 after buying an additional 12,871 shares during the period. SG Americas Securities LLC lifted its holdings in shares of DTE Energy by 273.2% in the fourth quarter. SG Americas Securities LLC now owns 48,071 shares of the utilities provider’s stock valued at $5,300,000 after buying an additional 35,189 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of DTE Energy by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,737 shares of the utilities provider’s stock valued at $4,271,000 after buying an additional 7,975 shares during the period. Finally, Arvest Investments Inc. acquired a new stake in shares of DTE Energy in the fourth quarter valued at $2,581,000. 76.06% of the stock is currently owned by institutional investors.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the sale, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,400 shares of company stock valued at $1,739,024. Corporate insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

DTE has been the subject of several analyst reports. TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Morgan Stanley upped their target price on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their target price on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Scotiabank reduced their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. Finally, Barclays upped their target price on DTE Energy from $115.00 to $119.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $116.30.

DTE Energy Stock Down 0.3 %

Shares of DTE traded down $0.41 during midday trading on Wednesday, reaching $116.77. 130,996 shares of the stock were exchanged, compared to its average volume of 1,134,804. DTE Energy has a 12-month low of $90.14 and a 12-month high of $117.44. The firm has a 50 day simple moving average of $110.82 and a 200-day simple moving average of $108.28. 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 company has a market cap of $24.16 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 2.90 and a beta of 0.64.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Research analysts forecast that DTE Energy will post 6.7 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, June 17th. DTE Energy’s payout ratio is 66.78%.

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.