Commonwealth Equity Services LLC trimmed its position in shares of DTE Energy Co (NYSE:DTE) by 4.0% in the first quarter, HoldingsChannel.com reports. The fund owned 43,130 shares of the utilities provider’s stock after selling 1,816 shares during the period. Commonwealth Equity Services LLC’s holdings in DTE Energy were worth $5,380,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in DTE. OppenheimerFunds Inc. raised its position in DTE Energy by 29.7% in the 1st quarter. OppenheimerFunds Inc. now owns 20,706 shares of the utilities provider’s stock valued at $2,583,000 after purchasing an additional 4,742 shares in the last quarter. Resources Investment Advisors Inc. raised its position in DTE Energy by 67.8% in the 1st quarter. Resources Investment Advisors Inc. now owns 829 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 335 shares in the last quarter. AlphaCrest Capital Management LLC raised its position in DTE Energy by 20.2% in the 1st quarter. AlphaCrest Capital Management LLC now owns 10,403 shares of the utilities provider’s stock valued at $1,298,000 after purchasing an additional 1,751 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in DTE Energy by 175.3% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 29,652 shares of the utilities provider’s stock valued at $3,699,000 after purchasing an additional 18,881 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in DTE Energy in the 1st quarter valued at about $243,000. Institutional investors own 70.51% of the company’s stock.
A number of equities research analysts have issued reports on the company. KeyCorp assumed coverage on DTE Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $136.00 price target on the stock. Bank of America reduced their price target on DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. ValuEngine raised DTE Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. UBS Group raised their target price on DTE Energy from $132.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $122.15.
In other DTE Energy news, VP Lisa A. Muschong sold 237 shares of DTE Energy stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $128.86, for a total transaction of $30,539.82. Following the transaction, the vice president now owns 2,100 shares of the company’s stock, valued at $270,606. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Peter B. Oleksiak sold 1,500 shares of DTE Energy stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $125.25, for a total value of $187,875.00. Following the transaction, the chief financial officer now directly owns 40,208 shares in the company, valued at approximately $5,036,052. The disclosure for this sale can be found here. Insiders have sold a total of 21,737 shares of company stock worth $2,744,715 in the last three months. Corporate insiders own 0.55% of the company’s stock.
Shares of NYSE DTE opened at $128.87 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 1.16. DTE Energy Co has a fifty-two week low of $95.40 and a fifty-two week high of $131.24. The stock has a market cap of $23.66 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 3.46 and a beta of 0.26.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.10. DTE Energy had a return on equity of 10.99% and a net margin of 8.30%. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company earned $1.91 EPS. Equities analysts forecast that DTE Energy Co will post 6.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, June 14th. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.
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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