Penserra Capital Management LLC Invests $1.79 Million in DTE Energy Co (DTE)

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Penserra Capital Management LLC bought a new stake in DTE Energy Co (NYSE:DTE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 16,428 shares of the utilities provider’s stock, valued at approximately $1,792,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Cornerstone Wealth Management LLC bought a new stake in shares of DTE Energy in the 3rd quarter valued at about $1,501,000. Canada Pension Plan Investment Board lifted its stake in shares of DTE Energy by 203.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 213,110 shares of the utilities provider’s stock valued at $22,085,000 after acquiring an additional 142,800 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of DTE Energy by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 1,744,677 shares of the utilities provider’s stock valued at $180,833,000 after acquiring an additional 139,879 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of DTE Energy by 41.3% in the 3rd quarter. Bank of Montreal Can now owns 301,926 shares of the utilities provider’s stock valued at $32,950,000 after acquiring an additional 88,258 shares during the last quarter. Finally, Northern Trust Corp raised its position in DTE Energy by 4.2% during the 2nd quarter. Northern Trust Corp now owns 2,205,903 shares of the utilities provider’s stock valued at $228,598,000 after purchasing an additional 88,227 shares during the last quarter. 71.13% of the stock is owned by institutional investors.

DTE has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on DTE Energy in a research report on Tuesday, July 24th. They set a “buy” rating and a $115.00 price target for the company. Guggenheim reaffirmed a “buy” rating and set a $114.00 price target on shares of DTE Energy in a research report 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 report on Monday, July 30th. Barclays initiated coverage on DTE Energy in a research report on Wednesday, August 15th. They set an “equal weight” rating and a $116.00 price target for the company. Finally, Citigroup upped their price target on DTE Energy from $103.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. DTE Energy presently has a consensus rating of “Hold” and an average target price of $114.36.

DTE opened at $118.14 on Friday. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth 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 Co has a one year low of $94.25 and a one year high of $118.50.

DTE Energy (NYSE:DTE) last released 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. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.29 billion. DTE Energy had a return on equity of 11.61% and a net margin of 8.85%. During the same quarter in the prior year, the company posted $1.48 EPS. Equities research analysts forecast that DTE Energy Co will post 6.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 3.20%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.88. DTE Energy’s dividend payout ratio is currently 63.15%.

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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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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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