TD Asset Management Inc. cut its stake in shares of DTE Energy Co (NYSE:DTE) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 224,349 shares of the utilities provider’s stock after selling 7,540 shares during the quarter. TD Asset Management Inc.’s holdings in DTE Energy were worth $27,985,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in DTE. JPMorgan Chase & Co. lifted its holdings in DTE Energy by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 905,159 shares of the utilities provider’s stock worth $98,781,000 after buying an additional 94,902 shares during the period. Vanguard Group Inc lifted its stake 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 purchasing an additional 311,679 shares during the period. Boston Advisors LLC lifted its stake in shares of DTE Energy by 6.8% in 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 period. BB&T Corp lifted its stake in shares of DTE Energy by 14.3% in 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 period. Finally, Strs Ohio lifted its stake in shares of DTE Energy by 1.7% in 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 period. 70.94% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Peter B. Oleksiak sold 1,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $125.25, for a total value of $187,875.00. Following the completion of the sale, the chief financial officer now directly owns 40,208 shares of the company’s stock, valued at approximately $5,036,052. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark W. Stiers sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $127.84, for a total value of $1,278,400.00. Following the completion of the sale, the insider now directly owns 6,700 shares of the company’s stock, valued at $856,528. The disclosure for this sale can be found here. Insiders sold a total of 21,500 shares of company stock valued at $2,714,175 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.
DTE has been the topic of a number of recent analyst reports. Zacks Investment Research raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Macquarie set a $123.00 price objective on DTE Energy and gave the company a “buy” rating in a research note on Saturday, February 9th. ValuEngine raised DTE Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Credit Suisse Group boosted their price objective on DTE Energy from $110.00 to $113.00 and gave the company an “underperform” rating in a research note on Monday, February 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $119.46.
DTE Energy stock traded up $0.11 during midday trading on Friday, reaching $129.44. The stock had a trading volume of 6,718 shares, compared to its average volume of 977,035. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $129.35. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.42 and a beta of 0.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.61.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.10. DTE Energy had a return on equity of 10.99% and a net margin of 8.30%. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company posted $1.91 EPS. On average, sell-side analysts expect that DTE Energy Co will post 6.2 EPS for the current year.
The company also recently announced 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 yield of 2.92%. The ex-dividend date is Friday, June 14th. DTE Energy’s payout ratio is 60.00%.
About DTE Energy
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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