BT Investment Management Ltd acquired a new position in shares of DTE Energy Company (NYSE:DTE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 84,536 shares of the utilities provider’s stock, valued at approximately $8,943,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in DTE Energy by 60.2% during the 2nd quarter. Amalgamated Bank now owns 20,164 shares of the utilities provider’s stock worth $2,133,000 after acquiring an additional 7,579 shares during the last quarter. BlackRock Inc. boosted its stake in DTE Energy by 0.6% during the 2nd quarter. BlackRock Inc. now owns 14,565,689 shares of the utilities provider’s stock worth $1,540,905,000 after acquiring an additional 90,525 shares during the last quarter. Bridgewater Associates LP bought a new position in DTE Energy during the 2nd quarter worth approximately $702,000. Hugh Johnson Advisors LLC boosted its stake in DTE Energy by 11.0% during the 2nd quarter. Hugh Johnson Advisors LLC now owns 2,537 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 252 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its stake in DTE Energy by 3.2% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 2,749 shares of the utilities provider’s stock worth $291,000 after acquiring an additional 86 shares during the last quarter. 68.63% of the stock is currently owned by institutional investors and hedge funds.
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DTE has been the topic of several recent analyst reports. KeyCorp reissued a “buy” rating and set a $113.00 price objective on shares of DTE Energy in a research note on Sunday, August 27th. BidaskClub lowered shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC reissued a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. BMO Capital Markets reissued a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a research note on Friday, July 28th. Finally, Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $109.20.
Shares of DTE Energy Company (NYSE DTE) opened at 111.45 on Friday. The firm has a market capitalization of $19.99 billion, a P/E ratio of 19.19 and a beta of 0.22. The firm’s 50-day moving average is $110.40 and its 200 day moving average is $106.47. DTE Energy Company has a one year low of $89.66 and a one year high of $113.71.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Equities research analysts predict that DTE Energy Company will post $5.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s payout ratio is 56.60%.
In other DTE Energy news, insider Larry E. Steward sold 9,999 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the transaction, the insider now directly owns 39,698 shares in the company, valued at approximately $4,268,328.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark W. Stiers sold 3,632 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $110.03, for a total value of $399,628.96. Following the transaction, the insider now owns 25,257 shares in the company, valued at $2,779,027.71. The disclosure for this sale can be found here. Insiders have sold a total of 25,631 shares of company stock worth $2,756,681 over the last 90 days. Company insiders own 0.53% of the company’s stock.
DTE Energy Company Profile
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