The Manufacturers Life Insurance Company reduced its holdings in shares of DTE Energy Co (NYSE:DTE) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 652,097 shares of the utilities provider’s stock after selling 1,665 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.36% of DTE Energy worth $68,079,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. SeaCrest Wealth Management LLC purchased a new stake in shares of DTE Energy in the 4th quarter worth about $138,000. Focused Wealth Management Inc purchased a new position in DTE Energy during the 4th quarter valued at about $164,000. Capital One National Association purchased a new position in DTE Energy during the 4th quarter valued at about $201,000. BB&T Securities LLC bought a new stake in DTE Energy during the 4th quarter valued at about $202,000. Finally, HL Financial Services LLC bought a new stake in DTE Energy during the 1st quarter valued at about $208,000. Institutional investors own 70.55% of the company’s stock.
Shares of DTE Energy opened at $103.63 on Friday, Marketbeat Ratings reports. The company has a market capitalization of $18.86 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 3.38 and a beta of 0.16. DTE Energy Co has a twelve month low of $94.25 and a twelve month high of $116.74. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.93 and a current ratio of 1.16.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, April 25th. The utilities provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.26 billion. DTE Energy had a net margin of 8.34% and a return on equity of 10.27%. During the same quarter last year, the company earned $1.79 EPS. analysts forecast that DTE Energy Co will post 5.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be issued a dividend of $0.8825 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $3.53 annualized dividend and a dividend yield of 3.41%. DTE Energy’s dividend payout ratio is presently 63.15%.
In related news, insider Peter B. Oleksiak sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $99.89, for a total transaction of $99,890.00. Following the completion of the sale, the insider now directly owns 29,555 shares of the company’s stock, valued at approximately $2,952,248.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gerard M. Anderson sold 15,000 shares of DTE Energy stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $102.18, for a total value of $1,532,700.00. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.
A number of brokerages have recently commented on DTE. KeyCorp lifted their price target on shares of DTE Energy from $107.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 18th. ValuEngine raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded shares of DTE Energy from a “hold” rating to a “sell” rating in a report on Monday, April 23rd. Citigroup started coverage on shares of DTE Energy in a research note on Friday, April 13th. They set a “neutral” rating and a $103.00 price target on the stock. Finally, Wells Fargo & Co cut shares of DTE Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $109.27 to $103.00 in a research report on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $109.30.
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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