Parametric Portfolio Associates LLC increased its stake in DTE Energy Co (NYSE:DTE) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 588,659 shares of the utilities provider’s stock after purchasing an additional 19,750 shares during the quarter. Parametric Portfolio Associates LLC owned 0.32% of DTE Energy worth $75,278,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. 6 Meridian boosted its position in shares of DTE Energy by 1.9% in the second quarter. 6 Meridian now owns 4,294 shares of the utilities provider’s stock worth $549,000 after acquiring an additional 79 shares during the last quarter. BB&T Securities LLC raised its holdings in DTE Energy by 4.3% in the second quarter. BB&T Securities LLC now owns 2,120 shares of the utilities provider’s stock valued at $271,000 after buying an additional 87 shares during the period. Abner Herrman & Brock LLC raised its holdings in DTE Energy by 5.6% in the second quarter. Abner Herrman & Brock LLC now owns 1,710 shares of the utilities provider’s stock valued at $219,000 after buying an additional 90 shares during the period. Hyman Charles D raised its holdings in DTE Energy by 4.1% in the second quarter. Hyman Charles D now owns 2,550 shares of the utilities provider’s stock valued at $326,000 after buying an additional 100 shares during the period. Finally, Copperwynd Financial LLC raised its holdings in DTE Energy by 3.6% in the second quarter. Copperwynd Financial LLC now owns 3,446 shares of the utilities provider’s stock valued at $441,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 70.90% of the company’s stock.
DTE has been the topic of several research reports. Barclays restated a “hold” rating and issued a $131.00 price target on shares of DTE Energy in a report on Thursday, June 20th. Wells Fargo & Co upgraded shares of DTE Energy from a “market perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Monday, August 26th. Bank of America cut their price target on shares of DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. ValuEngine lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Mizuho started coverage on shares of DTE Energy in a report on Monday, August 12th. They issued a “neutral” rating and a $131.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $128.64.
Shares of DTE stock traded down $1.05 during mid-day trading on Friday, reaching $128.18. 40,692 shares of the company were exchanged, compared to its average volume of 975,470. DTE Energy Co has a fifty-two week low of $106.41 and a fifty-two week high of $132.50. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.75. The company has a market capitalization of $23.57 billion, a P/E ratio of 20.38, a P/E/G ratio of 3.45 and a beta of 0.22. The business’s 50 day simple moving average is $129.10 and its 200 day simple moving average is $126.92.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business posted $1.36 EPS. On average, analysts forecast that DTE Energy Co will post 6.22 EPS for the current year.
The business 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. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, September 13th. DTE Energy’s payout ratio is currently 60.00%.
In other news, COO Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 17,111 shares of the company’s stock, valued at $2,241,541. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gerard M. Anderson sold 11,500 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, 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 company insiders.
DTE Energy Company 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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