Delta Asset Management LLC TN decreased its position in DTE Energy Company (NYSE:DTE) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,690 shares of the utilities provider’s stock after selling 100 shares during the period. Delta Asset Management LLC TN’s holdings in DTE Energy were worth $179,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Legacy Private Trust Co. increased its position in shares of DTE Energy by 6.7% in the first quarter. Legacy Private Trust Co. now owns 40,728 shares of the utilities provider’s stock worth $4,158,000 after buying an additional 2,573 shares during the period. National Pension Service increased its position in shares of DTE Energy by 3.1% in the first quarter. National Pension Service now owns 146,086 shares of the utilities provider’s stock worth $14,794,000 after buying an additional 4,335 shares during the period. Gulf International Bank UK Ltd increased its position in shares of DTE Energy by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 55,312 shares of the utilities provider’s stock worth $5,647,000 after buying an additional 700 shares during the period. Denali Advisors LLC increased its position in shares of DTE Energy by 5.1% in the first quarter. Denali Advisors LLC now owns 106,002 shares of the utilities provider’s stock worth $10,824,000 after buying an additional 5,165 shares during the period. Finally, LifePlan Financial Group Inc increased its position in shares of DTE Energy by 11.5% in the first quarter. LifePlan Financial Group Inc now owns 4,992 shares of the utilities provider’s stock worth $510,000 after buying an additional 515 shares during the period. 67.75% of the stock is currently owned by hedge funds and other institutional investors.
DTE Energy Company (DTE) traded down 1.09% during mid-day trading on Friday, hitting $107.87. The stock had a trading volume of 590,537 shares. The stock’s 50-day moving average price is $106.88 and its 200-day moving average price is $104.26. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $111.35. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 18.57 and a beta of 0.21.
DTE Energy (NYSE:DTE) last released its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.98 EPS. On average, analysts predict that DTE Energy Company will post $5.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio is currently 56.60%.
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A number of equities analysts recently weighed in on DTE shares. Barclays PLC reissued an “overweight” rating and issued a $115.00 price target (up from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $117.00 price objective (up from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. BidaskClub downgraded shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. Finally, Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $108.00.
In related news, VP Lisa A. Muschong sold 426 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $109.51, for a total transaction of $46,651.26. Following the completion of the transaction, the vice president now owns 2,543 shares in the company, valued at approximately $278,483.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gerardo Norcia sold 4,838 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total value of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,263 shares of company stock worth $3,489,815. Corporate insiders own 0.53% of the company’s stock.
DTE Energy Company Profile
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