DTE Energy Co (DTE) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in shares of DTE Energy Co (NYSE:DTE) by 35.8% during the second quarter, Holdings Channel reports. The fund owned 994,024 shares of the utilities provider’s stock after selling 554,596 shares during the period. Millennium Management LLC’s holdings in DTE Energy were worth $103,011,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. LPL Financial LLC grew its stake in shares of 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 acquiring an additional 499 shares during the last quarter. Neuburgh Advisers LLC grew its stake in shares of DTE Energy by 8.2% during the second quarter. Neuburgh Advisers LLC now owns 6,952 shares of the utilities provider’s stock worth $721,000 after acquiring an additional 528 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of DTE Energy by 7.3% during the second quarter. Riverhead Capital Management LLC now owns 7,978 shares of the utilities provider’s stock worth $827,000 after acquiring an additional 541 shares during the last quarter. Tyers Asset Management LLC grew its stake in shares of DTE Energy by 7.7% during the first quarter. Tyers Asset Management LLC now owns 8,176 shares of the utilities provider’s stock worth $854,000 after acquiring an additional 588 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of DTE Energy by 5.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 11,165 shares of the utilities provider’s stock worth $1,157,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 70.91% of the company’s stock.

Shares of NYSE DTE opened at $112.30 on Friday. The company has a market capitalization of $20.54 billion, a P/E ratio of 18.81, a PEG ratio of 3.44 and a beta of 0.10. DTE Energy Co has a 52 week low of $94.25 and a 52 week high of $116.74. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 1.16.

DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 25th. The utilities provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.23. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $2.57 billion. DTE Energy had a return on equity of 10.63% and a net margin of 8.58%. During the same quarter in the prior year, the firm earned $1.07 earnings per share. sell-side analysts predict that DTE Energy Co will post 6.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 17th will be given a $0.8825 dividend. The ex-dividend date is Friday, September 14th. This represents a $3.53 annualized dividend and a yield of 3.14%. DTE Energy’s dividend payout ratio is presently 63.15%.

In other DTE Energy news, Chairman Gerard M. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $110.18, for a total value of $1,101,800.00. Following the sale, the chairman now owns 84,858 shares in the company, valued at approximately $9,349,654.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Lisa A. Muschong sold 426 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $107.49, for a total value of $45,790.74. Following the completion of the sale, the vice president now owns 2,250 shares in the company, valued at approximately $241,852.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,226 shares of company stock worth $1,674,057. Insiders own 0.59% of the company’s stock.

A number of brokerages recently commented on DTE. Citigroup upped their target price on DTE Energy from $103.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, September 10th. Barclays began coverage on DTE Energy in a research report on Wednesday, August 15th. They issued an “equal weight” rating and a $116.00 target price on the stock. Wells Fargo & Co upped their target price on DTE Energy from $103.00 to $113.00 and gave the company a “market perform” rating in a research report on Tuesday, August 14th. KeyCorp upped their target price on DTE Energy from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. DTE Energy has a consensus rating of “Hold” and an average target price of $112.91.

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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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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