IBM Retirement Fund reduced its stake in shares of DTE Energy Co (NYSE:DTE) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,041 shares of the utilities provider’s stock after selling 469 shares during the quarter. IBM Retirement Fund’s holdings in DTE Energy were worth $522,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. McKinley Carter Wealth Services Inc. acquired a new stake in DTE Energy during the 1st quarter worth $179,000. HL Financial Services LLC acquired a new stake in DTE Energy during the 1st quarter worth $208,000. Greenleaf Trust acquired a new stake in DTE Energy during the 2nd quarter worth $220,000. Piedmont Investment Advisors LLC acquired a new stake in DTE Energy during the 2nd quarter worth $220,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in DTE Energy during the 1st quarter worth $230,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.
Several brokerages recently commented on DTE. Howard Weil began coverage on shares of DTE Energy in a research note on Tuesday, July 24th. They set a “sector outperform” rating and a $115.00 price target on the stock. ValuEngine upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Zacks Investment Research raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. KeyCorp raised their price objective on shares of DTE Energy from $115.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, Scotiabank started coverage on shares of DTE Energy in a research report on Tuesday, July 24th. They set a “buy” rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $112.27.
Shares of DTE Energy stock opened at $112.96 on Friday. DTE Energy Co has a 1 year low of $94.25 and a 1 year high of $116.74. The company has a current ratio of 1.16, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a market cap of $20.72 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 3.47 and a beta of 0.10.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.23. DTE Energy had a net margin of 8.58% and a return on equity of 10.63%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the firm posted $1.07 EPS. research analysts forecast that DTE Energy Co will post 6.16 EPS for the current year.
The firm 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 dividend of $0.8825 per share. This represents a $3.53 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, September 14th. DTE Energy’s payout ratio is currently 63.15%.
In other news, Chairman Gerard M. Anderson sold 10,000 shares of DTE Energy stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $110.18, for a total value of $1,101,800.00. Following the sale, the chairman now owns 84,858 shares of the company’s stock, valued at $9,349,654.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lisa A. Muschong sold 426 shares of DTE Energy stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $107.49, for a total transaction of $45,790.74. Following the completion of the sale, the vice president now directly owns 2,250 shares in the company, valued at approximately $241,852.50. The disclosure for this sale can be found here. Insiders have sold a total of 15,226 shares of company stock worth $1,674,057 over the last three months. 0.59% of the stock is currently owned by insiders.
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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