Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of DTE Energy Co (NYSE:DTE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,968 shares of the utilities provider’s stock, valued at approximately $1,088,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ELM Advisors LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth approximately $120,000. Valeo Financial Advisors LLC boosted its position in shares of DTE Energy by 89.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 731 shares in the last quarter. Polaris Greystone Financial Group LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth approximately $193,000. NTV Asset Management LLC acquired a new stake in shares of DTE Energy during the 3rd quarter worth approximately $206,000. Finally, Truvestments Capital LLC acquired a new stake in shares of DTE Energy during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 73.13% of the company’s stock.
A number of brokerages have weighed in on DTE. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Bank of America raised their target price on shares of DTE Energy from $101.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 25th. Citigroup raised their target price on shares of DTE Energy from $110.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, December 10th. Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Wells Fargo & Co raised their target price on shares of DTE Energy from $113.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. DTE Energy has a consensus rating of “Hold” and an average price target of $115.09.
Shares of DTE Energy stock opened at $118.22 on Friday. DTE Energy Co has a fifty-two week low of $94.25 and a fifty-two week high of $121.00. The company has a current ratio of 1.47, a quick ratio of 1.10 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $21.51 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 3.13 and a beta of 0.08.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, October 24th. The utilities provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.39. DTE Energy had a net margin of 8.85% and a return on equity of 11.61%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $1.48 earnings per share. Equities analysts anticipate that DTE Energy Co will post 6.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be issued a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, December 14th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.88. DTE Energy’s payout ratio is 63.15%.
In other news, CAO Jeffrey A. Jewell sold 4,190 shares of DTE Energy stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $120.00, for a total transaction of $502,800.00. Following the transaction, the chief accounting officer now owns 11,738 shares in the company, valued at $1,408,560. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Gerard M. Anderson sold 10,000 shares of DTE Energy stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $119.73, for a total transaction of $1,197,300.00. Following the transaction, the chairman now owns 84,858 shares in the company, valued at approximately $10,160,048.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,040 shares of company stock worth $1,919,640. 0.59% of the stock is owned by company insiders.
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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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