Sei Investments Co. lifted its stake in DTE Energy Co (NYSE:DTE) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 79,758 shares of the utilities provider’s stock after acquiring an additional 6,522 shares during the quarter. Sei Investments Co.’s holdings in DTE Energy were worth $8,563,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Pacad Investment Ltd. acquired a new stake in shares of DTE Energy in the 2nd quarter valued at $106,000. Sun Life Financial INC grew its position in shares of DTE Energy by 13,030.0% in the 2nd quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock valued at $139,000 after buying an additional 1,303 shares during the last quarter. Vantage Investment Advisors LLC grew its position in shares of DTE Energy by 0.8% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock valued at $140,000 after buying an additional 10 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of DTE Energy by 335.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,032 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in DTE Energy by 36.1% during the 2nd quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.
Several brokerages have recently weighed in on DTE. Bank of America assumed coverage on shares of DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 target price on the stock. BidaskClub upgraded shares of DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. KeyCorp restated a “buy” rating and set a $113.00 target price on shares of DTE Energy in a research report on Sunday, August 27th. Credit Suisse Group cut their target price on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. Finally, Jefferies Group reiterated a “buy” rating and set a $121.00 price target on shares of DTE Energy in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $111.50.
DTE Energy Co (NYSE:DTE) traded up $0.07 during midday trading on Thursday, hitting $115.07. 885,132 shares of the stock were exchanged, compared to its average volume of 877,536. DTE Energy Co has a twelve month low of $95.17 and a twelve month high of $116.74. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $20,513.28, a PE ratio of 22.20, a P/E/G ratio of 3.44 and a beta of 0.23.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.05). The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.80 billion. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. equities analysts forecast that DTE Energy Co will post 5.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be given a dividend of $0.8825 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a $3.53 annualized dividend and a dividend yield of 3.07%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio is currently 60.44%.
In other news, Chairman Gerard M. Anderson sold 12,389 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the transaction, the chairman now owns 83,000 shares in the company, valued at $9,373,190. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.
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About DTE Energy
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