Prudential Financial Inc. raised its holdings in shares of DTE Energy Co (NYSE:DTE) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 172,669 shares of the utilities provider’s stock after buying an additional 5,460 shares during the quarter. Prudential Financial Inc.’s holdings in DTE Energy were worth $22,081,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in DTE. Teza Capital Management LLC acquired a new position in DTE Energy during the second quarter worth $2,202,000. Edgestream Partners L.P. purchased a new stake in shares of DTE Energy during the second quarter worth $2,808,000. LSV Asset Management grew its holdings in shares of DTE Energy by 1,890.9% during the second quarter. LSV Asset Management now owns 318,540 shares of the utilities provider’s stock worth $40,734,000 after buying an additional 302,540 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of DTE Energy by 25.0% during the second quarter. Acadian Asset Management LLC now owns 356,464 shares of the utilities provider’s stock worth $45,588,000 after buying an additional 71,379 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of DTE Energy by 24.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,356 shares of the utilities provider’s stock valued at $4,010,000 after purchasing an additional 6,066 shares during the period. Institutional investors and hedge funds own 71.05% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Barclays reissued a “hold” rating and issued a $131.00 price objective on shares of DTE Energy in a report on Thursday, June 20th. KeyCorp assumed coverage on shares of DTE Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $136.00 price objective for the company. Wells Fargo & Co raised shares of DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, August 26th. Mizuho assumed coverage on shares of DTE Energy in a report on Monday, August 12th. They issued a “neutral” rating and a $131.00 price objective for the company. Finally, ValuEngine lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. DTE Energy has a consensus rating of “Hold” and an average target price of $128.64.
In other news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $131.00, for a total transaction of $1,310,000.00. Following the sale, the chief operating officer now owns 17,111 shares of the company’s stock, valued at $2,241,541. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gerard M. Anderson sold 11,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the sale, the chairman now directly owns 80,406 shares in the company, valued at approximately $10,293,576.12. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
DTE stock traded down $2.07 during mid-day trading on Thursday, hitting $129.99. 831,907 shares of the company were exchanged, compared to its average volume of 884,831. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $23.92 billion, a P/E ratio of 20.63, a PEG ratio of 3.54 and a beta of 0.22. The business has a fifty day simple moving average of $129.16 and a 200-day simple moving average of $126.65. DTE Energy Co has a 12-month low of $106.41 and a 12-month high of $132.50.
DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.10). The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.98 billion. DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. During the same period last year, the business earned $1.36 EPS. Research analysts predict that DTE Energy Co will post 6.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.78 annualized dividend and a dividend yield of 2.91%. DTE Energy’s dividend payout ratio 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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