Illinois Municipal Retirement Fund Sells 17,406 Shares of DTE Energy (NYSE:DTE)

Illinois Municipal Retirement Fund cut its stake in shares of DTE Energy (NYSE:DTE) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,034 shares of the utilities provider’s stock after selling 17,406 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in DTE Energy were worth $9,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of DTE. Capital Research Global Investors raised its stake in shares of DTE Energy by 1.2% during the first quarter. Capital Research Global Investors now owns 21,194,653 shares of the utilities provider’s stock worth $2,376,768,000 after acquiring an additional 261,623 shares in the last quarter. Boston Partners raised its stake in shares of 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 acquiring an additional 1,018,212 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of DTE Energy by 224.7% during the first quarter. Clearbridge Investments LLC now owns 2,538,106 shares of the utilities provider’s stock worth $284,623,000 after acquiring an additional 1,756,459 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of DTE Energy by 6,964.9% during the first quarter. Janus Henderson Group PLC now owns 2,090,350 shares of the utilities provider’s stock worth $234,410,000 after acquiring an additional 2,060,762 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of DTE Energy by 2.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,682,067 shares of the utilities provider’s stock worth $185,465,000 after acquiring an additional 40,208 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $123.19 on Friday. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.29 and a beta of 0.67. The firm’s 50-day moving average is $118.84 and its 200 day moving average is $113.84. DTE Energy has a 1 year low of $90.14 and a 1 year high of $127.59. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.52.

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

DTE Energy Dividend Announcement

The company also recently declared 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 3.31%. The ex-dividend date is Monday, September 16th. DTE Energy’s payout ratio is 66.78%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTE. BMO Capital Markets lifted their price target on shares of DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday. Wells Fargo & Company lifted their target price on shares of DTE Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Bank of America lifted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, August 29th. KeyCorp lifted 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. Finally, Barclays lifted their price target on shares of DTE Energy from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and an average target price of $124.92.

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.