FTB Advisors Inc. decreased its holdings in DTE Energy Co (NYSE:DTE) by 34.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,016 shares of the utilities provider’s stock after selling 3,144 shares during the period. FTB Advisors Inc.’s holdings in DTE Energy were worth $657,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. ELM Advisors LLC bought a new position in shares of DTE Energy in the third quarter worth about $120,000. Valeo Financial Advisors LLC boosted its stake in shares of DTE Energy by 89.3% in the second quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 731 shares during the period. Polaris Greystone Financial Group LLC bought a new position in shares of DTE Energy in the third quarter worth about $193,000. Truvestments Capital LLC bought a new position in shares of DTE Energy in the second quarter worth about $207,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of DTE Energy in the second quarter worth about $220,000. 71.13% of the stock is owned by hedge funds and other institutional investors.
Shares of DTE Energy stock opened at $118.14 on Friday. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $118.50. The company has a market cap of $21.13 billion, a P/E ratio of 17.44, a PEG ratio of 3.07 and a beta of 0.04. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.47 and a quick ratio of 1.10.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 24th. The utilities provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.39. DTE Energy had a return on equity of 11.61% and a net margin of 8.85%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the company earned $1.48 earnings per share. Research analysts predict that DTE Energy Co will post 6.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be paid a dividend of $0.945 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $0.88. This represents a $3.78 dividend on an annualized basis and a yield of 3.20%. DTE Energy’s dividend payout ratio is presently 63.15%.
A number of equities analysts have recently weighed in on DTE shares. Scotiabank started coverage on DTE Energy in a research note on Tuesday, July 24th. They issued a “buy” rating and a $115.00 price objective for the company. Guggenheim reissued a “buy” rating and set a $114.00 price target on shares of DTE Energy in a research note on Monday, July 23rd. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Monday, July 30th. Barclays began coverage on DTE Energy in a research note on Wednesday, August 15th. They set an “equal weight” rating and a $116.00 price target for the company. Finally, Citigroup increased their price target on DTE Energy from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Monday, September 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. DTE Energy currently has an average rating of “Hold” and an average target price of $114.36.
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.
Read More: Earnings Per Share (EPS) Explained
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