Bank of Montreal Can grew its position in shares of DTE Energy Co (NYSE:DTE) by 41.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,926 shares of the utilities provider’s stock after buying an additional 88,258 shares during the quarter. Bank of Montreal Can owned approximately 0.17% of DTE Energy worth $32,950,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of DTE. GSA Capital Partners LLP bought a new stake in DTE Energy during the first quarter worth about $378,000. Natixis bought a new stake in DTE Energy during the first quarter worth about $916,000. Ladenburg Thalmann Financial Services Inc. grew its stake in DTE Energy by 30.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,522 shares of the utilities provider’s stock worth $2,455,000 after buying an additional 5,429 shares during the last quarter. LPL Financial LLC grew its stake in DTE Energy by 1.1% during the first quarter. LPL Financial LLC now owns 44,443 shares of the utilities provider’s stock worth $4,640,000 after buying an additional 499 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in DTE Energy by 33.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 93,496 shares of the utilities provider’s stock worth $9,761,000 after buying an additional 23,304 shares during the last quarter. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Lisa A. Muschong sold 426 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $107.49, for a total transaction of $45,790.74. Following the sale, the vice president now directly owns 2,250 shares of the company’s stock, valued at $241,852.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Trevor F. Lauer sold 3,800 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $110.02, for a total transaction of $418,076.00. Following the sale, the insider now directly owns 11,989 shares in the company, valued at $1,319,029.78. The disclosure for this sale can be found here. Insiders have sold 15,226 shares of company stock worth $1,674,057 over the last three months. 0.59% of the stock is owned by insiders.
Several analysts have weighed in on DTE shares. ValuEngine raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. KeyCorp upped their price objective on shares of DTE Energy from $108.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Zacks Investment Research raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Guggenheim reaffirmed a “buy” rating and set a $114.00 price objective on shares of DTE Energy in a research note on Monday, July 23rd. Finally, Howard Weil assumed coverage on shares of DTE Energy in a research note on Tuesday, July 24th. They set a “sector outperform” rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. DTE Energy presently has a consensus rating of “Hold” and a consensus target price of $113.73.
DTE opened at $112.94 on Friday. DTE Energy Co has a one year low of $94.25 and a one year high of $116.74. The company has a current ratio of 1.16, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market cap of $20.23 billion, a PE ratio of 20.20, a P/E/G ratio of 3.38 and a beta of 0.11.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 25th. The utilities provider reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.23. DTE Energy had a net margin of 8.58% and a return on equity of 10.63%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, equities analysts anticipate that DTE Energy Co will post 6.17 EPS for the current fiscal year.
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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