JPMorgan Chase & Co. boosted its stake in shares of DTE Energy Co (NYSE:DTE) by 2.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,038,916 shares of the utilities provider’s stock after purchasing an additional 25,775 shares during the period. JPMorgan Chase & Co.’s holdings in DTE Energy were worth $129,595,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of DTE. Vanguard Group Inc boosted its holdings in shares of DTE Energy by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 19,856,235 shares of the utilities provider’s stock valued at $2,166,911,000 after buying an additional 311,679 shares during the last quarter. Boston Advisors LLC lifted its holdings in DTE Energy by 6.8% during the 4th quarter. Boston Advisors LLC now owns 2,601 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 165 shares during the last quarter. BB&T Corp lifted its holdings in DTE Energy by 14.3% during the 4th quarter. BB&T Corp now owns 5,327 shares of the utilities provider’s stock valued at $588,000 after purchasing an additional 665 shares during the last quarter. Strs Ohio lifted its holdings in DTE Energy by 1.7% during the 4th quarter. Strs Ohio now owns 30,574 shares of the utilities provider’s stock valued at $3,372,000 after purchasing an additional 524 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in DTE Energy by 286.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 23,906 shares of the utilities provider’s stock valued at $2,637,000 after purchasing an additional 17,718 shares during the last quarter. 70.94% of the stock is owned by institutional investors.
DTE has been the subject of several research reports. Zacks Investment Research raised DTE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Macquarie set a $123.00 price target on DTE Energy and gave the company a “buy” rating in a report on Saturday, February 9th. ValuEngine raised DTE Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Credit Suisse Group raised their price target on DTE Energy from $110.00 to $113.00 and gave the company an “underperform” rating in a report on Monday, February 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. DTE Energy has an average rating of “Hold” and an average price target of $119.46.
DTE stock opened at $129.33 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 1.16. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.42 and a beta of 0.26. DTE Energy Co has a fifty-two week low of $94.25 and a fifty-two week high of $129.35.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $2.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.10. DTE Energy had a return on equity of 10.99% and a net margin of 8.30%. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the business earned $1.91 earnings per share. As a group, equities analysts expect that DTE Energy Co will post 6.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, June 14th. DTE Energy’s payout ratio is currently 60.00%.
In related news, CFO Peter B. Oleksiak sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $125.25, for a total value of $187,875.00. Following the transaction, the chief financial officer now owns 40,208 shares in the company, valued at $5,036,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $127.84, for a total value of $1,278,400.00. Following the completion of the transaction, the insider now owns 6,700 shares in the company, valued at approximately $856,528. The disclosure for this sale can be found here. Insiders sold 21,500 shares of company stock worth $2,714,175 in the last 90 days. 0.55% of the stock is owned by company insiders.
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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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