Raymond James & Associates lifted its position in DTE Energy Co (NYSE:DTE) by 16.9% in the 2nd quarter, Holdings Channel reports. The fund owned 203,749 shares of the utilities provider’s stock after buying an additional 29,430 shares during the period. Raymond James & Associates’ holdings in DTE Energy were worth $21,903,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Capital World Investors lifted its position in shares of DTE Energy by 7.0% in the 1st quarter. Capital World Investors now owns 20,594,523 shares of the utilities provider’s stock valued at $1,955,862,000 after acquiring an additional 1,347,436 shares in the last quarter. BlackRock Inc. lifted its position in shares of DTE Energy by 2.2% in the 1st quarter. BlackRock Inc. now owns 17,008,450 shares of the utilities provider’s stock valued at $1,615,291,000 after acquiring an additional 359,455 shares in the last quarter. State Street Corp increased its stake in DTE Energy by 1.8% in the 1st quarter. State Street Corp now owns 10,338,542 shares of the utilities provider’s stock valued at $992,321,000 after buying an additional 177,932 shares during the period. Franklin Resources Inc. increased its stake in DTE Energy by 65.6% in the 1st quarter. Franklin Resources Inc. now owns 3,338,809 shares of the utilities provider’s stock valued at $317,087,000 after buying an additional 1,323,085 shares during the period. Finally, Geode Capital Management LLC increased its stake in DTE Energy by 5.4% in the 1st quarter. Geode Capital Management LLC now owns 3,316,018 shares of the utilities provider’s stock valued at $314,361,000 after buying an additional 168,850 shares during the period. Institutional investors and hedge funds own 72.69% of the company’s stock.
Shares of DTE opened at $115.63 on Friday. The company’s fifty day moving average is $108.59 and its 200-day moving average is $111.00. DTE Energy Co has a 12 month low of $71.21 and a 12 month high of $135.67. The firm has a market cap of $22.09 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 3.04 and a beta of 0.59. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.47.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.22. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.90 billion. DTE Energy had a net margin of 10.13% and a return on equity of 10.50%. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, research analysts predict that DTE Energy Co will post 6.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a dividend of $1.013 per share. This represents a $4.05 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, September 18th. DTE Energy’s dividend payout ratio is currently 64.29%.
Several research analysts have weighed in on DTE shares. Credit Suisse Group dropped their price objective on shares of DTE Energy from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 21st. TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Tuesday, June 9th. Bank of America dropped their price objective on shares of DTE Energy from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Finally, Morgan Stanley upped their price objective on shares of DTE Energy from $122.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. DTE Energy has a consensus rating of “Buy” and a consensus target price of $125.54.
In related news, SVP Joann Chavez sold 400 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $101.93, for a total transaction of $40,772.00. Following the completion of the sale, the senior vice president now directly owns 5,300 shares of the company’s stock, valued at approximately $540,229. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.
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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