First Trust Advisors LP lifted its holdings in shares of DTE Energy Company (NYSE:DTE) by 24.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 824,104 shares of the utilities provider’s stock after acquiring an additional 162,432 shares during the period. First Trust Advisors LP owned approximately 0.46% of DTE Energy worth $88,476,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DTE. Janus Henderson Group PLC grew its position in DTE Energy by 7,495.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,645,752 shares of the utilities provider’s stock worth $174,104,000 after purchasing an additional 1,624,083 shares in the last quarter. Goldman Sachs Group Inc. grew its position in DTE Energy by 36.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,122,051 shares of the utilities provider’s stock worth $224,492,000 after purchasing an additional 572,523 shares in the last quarter. APG Asset Management N.V. grew its position in DTE Energy by 190.0% in the 3rd quarter. APG Asset Management N.V. now owns 658,763 shares of the utilities provider’s stock worth $70,725,000 after purchasing an additional 431,600 shares in the last quarter. Vanguard Group Inc. grew its position in DTE Energy by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 18,988,361 shares of the utilities provider’s stock worth $2,008,779,000 after purchasing an additional 375,899 shares in the last quarter. Finally, Janus Capital Management LLC grew its position in DTE Energy by 44.8% in the 1st quarter. Janus Capital Management LLC now owns 1,165,374 shares of the utilities provider’s stock worth $118,997,000 after purchasing an additional 360,714 shares in the last quarter. 68.62% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Bank of America Corporation began coverage on shares of DTE Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 target price for the company. BMO Capital Markets reissued a “hold” rating and set a $111.00 target price on shares of DTE Energy in a research report on Friday, July 28th. BidaskClub raised shares of DTE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, KeyCorp reissued a “buy” rating and set a $113.00 target price on shares of DTE Energy in a research report on Sunday, August 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. DTE Energy presently has a consensus rating of “Hold” and a consensus target price of $111.50.
In related news, insider Mark W. Stiers sold 3,632 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the sale, the insider now directly owns 25,257 shares in the company, valued at approximately $2,779,027.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.
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Shares of DTE Energy Company (NYSE DTE) opened at $112.45 on Friday. The company has a market cap of $20,310.57, a P/E ratio of 21.98, a P/E/G ratio of 3.41 and a beta of 0.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.77 and a current ratio of 1.08. DTE Energy Company has a 52 week low of $90.01 and a 52 week high of $113.71.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.80 billion. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. research analysts predict that DTE Energy Company will post 5.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be paid a dividend of $0.8825 per share. This is a boost from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, December 15th. DTE Energy’s dividend payout ratio is presently 60.44%.
About DTE Energy
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