Sumitomo Mitsui Trust Holdings Inc. Has $93.89 Million Stake in DTE Energy Co (DTE)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in DTE Energy Co (NYSE:DTE) by 6.5% in the 1st quarter, HoldingsChannel reports. The firm owned 752,656 shares of the utilities provider’s stock after selling 52,707 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in DTE Energy were worth $93,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. We Are One Seven LLC purchased a new stake in DTE Energy in the 4th quarter worth $27,000. WP Advisors LLC purchased a new stake in DTE Energy in the 1st quarter worth $32,000. 1 North Wealth Services LLC purchased a new stake in DTE Energy in the 4th quarter worth $33,000. Claybrook Capital LLC purchased a new stake in DTE Energy in the 4th quarter worth $33,000. Finally, Sound Income Strategies LLC increased its stake in DTE Energy by 327.4% in the 1st quarter. Sound Income Strategies LLC now owns 265 shares of the utilities provider’s stock worth $33,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 70.94% of the company’s stock.

Shares of DTE traded up $0.60 during midday trading on Thursday, hitting $128.89. 9,768 shares of the company traded hands, compared to its average volume of 720,808. DTE Energy Co has a 52 week low of $94.25 and a 52 week high of $128.41. The company has a market capitalization of $23.31 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 3.42 and a beta of 0.26. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.95 by $0.10. DTE Energy had a net margin of 8.30% and a return on equity of 10.99%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. As a group, sell-side analysts expect that DTE Energy Co will post 6.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, June 14th. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.

In related news, CFO Peter B. Oleksiak sold 1,500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $125.25, for a total value of $187,875.00. Following the completion of the transaction, the chief financial officer now owns 40,208 shares of the company’s stock, valued at approximately $5,036,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ruth G. Shaw purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $124.27 per share, with a total value of $248,540.00. Following the acquisition, the director now owns 5,500 shares in the company, valued at approximately $683,485. The disclosure for this purchase can be found here. 0.55% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on DTE. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Thursday, January 24th. Macquarie set a $123.00 price target on DTE Energy and gave the stock a “buy” rating in a research note on Saturday, February 9th. ValuEngine upgraded DTE Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Credit Suisse Group set a $117.00 price target on DTE Energy and gave the stock a “sell” rating in a research note on Monday, April 22nd. Finally, UBS Group increased their price target on DTE Energy from $132.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. DTE Energy presently has an average rating of “Hold” and an average target price of $119.46.

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DTE Energy Company Profile

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.

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

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