Oppenheimer & Co. Inc. boosted its position in DTE Energy Co (NYSE:DTE) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,468 shares of the utilities provider’s stock after purchasing an additional 1,199 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in DTE Energy were worth $1,805,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in DTE. Vanguard Group Inc lifted its stake in DTE Energy by 1.6% in the third quarter. Vanguard Group Inc now owns 19,856,235 shares of the utilities provider’s stock valued at $2,166,911,000 after acquiring an additional 311,679 shares during the last quarter. BlackRock Inc. lifted its stake in shares of DTE Energy by 3.9% in the fourth quarter. BlackRock Inc. now owns 15,212,035 shares of the utilities provider’s stock worth $1,677,888,000 after buying an additional 577,066 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of DTE Energy by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock worth $258,174,000 after buying an additional 150,611 shares during the last quarter. Northern Trust Corp lifted its stake in shares of DTE Energy by 3.3% in the fourth quarter. Northern Trust Corp now owns 2,330,047 shares of the utilities provider’s stock worth $257,004,000 after buying an additional 75,242 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of DTE Energy by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,796,612 shares of the utilities provider’s stock worth $198,166,000 after buying an additional 27,301 shares during the last quarter. Institutional investors own 70.55% of the company’s stock.
In other DTE Energy news, Director Ruth G. Shaw purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $124.27 per share, with a total value of $248,540.00. Following the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at $683,485. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Gerard M. Anderson sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $124.79, for a total transaction of $1,247,900.00. Following the completion of the transaction, the chairman now directly owns 78,906 shares of the company’s stock, valued at $9,846,679.74. The disclosure for this sale can be found here. Insiders sold a total of 13,200 shares of company stock worth $1,643,923 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.
NYSE:DTE traded up $1.08 during mid-day trading on Wednesday, reaching $128.29. 475,845 shares of the company were exchanged, compared to its average volume of 980,299. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $128.41. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The firm has a market cap of $23.35 billion, a P/E ratio of 20.36, a P/E/G ratio of 3.43 and a beta of 0.26.
DTE Energy (NYSE:DTE) last released its earnings results on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.10. DTE Energy had a net margin of 8.30% and a return on equity of 10.99%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the company posted $1.91 EPS. As a group, equities analysts predict that DTE Energy Co will post 6.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a $0.945 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.95%. DTE Energy’s dividend payout ratio is 60.00%.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Thursday, January 24th. Macquarie set a $123.00 price target on shares of DTE Energy and gave the company a “buy” rating in a report on Saturday, February 9th. ValuEngine raised shares of DTE Energy from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Credit Suisse Group set a $117.00 price target on shares of DTE Energy and gave the company a “sell” rating in a report on Monday, April 22nd. Finally, UBS Group upped their target price on shares of DTE Energy from $132.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. DTE Energy has a consensus rating of “Hold” and an average price target of $119.46.
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DTE Energy Profile
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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