Fiduciary Trust Co. Has $1.43 Million Holdings in DTE Energy Co (DTE)

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Fiduciary Trust Co. reduced its position in DTE Energy Co (NYSE:DTE) by 10.0% during the 2nd quarter, Holdings Channel reports. The firm owned 13,811 shares of the utilities provider’s stock after selling 1,532 shares during the period. Fiduciary Trust Co.’s holdings in DTE Energy were worth $1,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of DTE Energy by 210.7% during the first quarter. Millennium Management LLC now owns 1,548,620 shares of the utilities provider’s stock valued at $161,676,000 after buying an additional 1,050,142 shares during the last quarter. BlackRock Inc. grew its holdings in shares of DTE Energy by 4.9% during the first quarter. BlackRock Inc. now owns 15,776,320 shares of the utilities provider’s stock valued at $1,647,046,000 after buying an additional 740,198 shares during the last quarter. Newport Trust Co purchased a new stake in shares of DTE Energy during the first quarter valued at $45,974,000. Royal Bank of Canada grew its holdings in shares of DTE Energy by 50.6% during the first quarter. Royal Bank of Canada now owns 1,230,529 shares of the utilities provider’s stock valued at $128,466,000 after buying an additional 413,636 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of DTE Energy by 12.3% during the first quarter. Boston Partners now owns 1,603,824 shares of the utilities provider’s stock valued at $167,439,000 after buying an additional 175,207 shares during the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on DTE. KeyCorp boosted their price objective on shares of DTE Energy from $115.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Monday, July 30th. Scotiabank began coverage on shares of DTE Energy in a report on Tuesday, July 24th. They set a “buy” rating and a $115.00 price objective on the stock. Howard Weil began coverage on shares of DTE Energy in a report on Tuesday, July 24th. They set a “sector outperform” rating and a $115.00 price objective on the stock. Finally, Guggenheim reissued a “buy” rating and set a $114.00 price objective on shares of DTE Energy in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.82.

In other DTE Energy news, insider Trevor F. Lauer sold 3,800 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $110.02, for a total value of $418,076.00. Following the completion of the transaction, the insider now owns 11,989 shares in the company, valued at $1,319,029.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Gerard M. Anderson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $110.18, for a total transaction of $1,101,800.00. Following the completion of the transaction, the chairman now owns 84,858 shares of the company’s stock, valued at approximately $9,349,654.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,226 shares of company stock valued at $1,773,947. Insiders own 0.59% of the company’s stock.

Shares of DTE Energy stock opened at $110.72 on Friday. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 3.36 and a beta of 0.15. DTE Energy Co has a fifty-two week low of $94.25 and a fifty-two week high of $116.74. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.16 and a quick ratio of 0.89.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $2.57 billion. DTE Energy had a net margin of 8.58% and a return on equity of 10.63%. During the same quarter in the prior year, the firm posted $1.07 earnings per share. sell-side analysts predict that DTE Energy Co will post 6.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 17th will be given a $0.8825 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.19%. DTE Energy’s dividend payout ratio (DPR) is currently 63.15%.

DTE Energy 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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