Geode Capital Management LLC lifted its position in DTE Energy Co (NYSE:DTE) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,344,758 shares of the utilities provider’s stock after buying an additional 150,611 shares during the quarter. Geode Capital Management LLC’s holdings in DTE Energy were worth $258,174,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc lifted its stake in shares of DTE Energy by 1.6% in the third quarter. Vanguard Group Inc now owns 19,856,235 shares of the utilities provider’s stock worth $2,166,911,000 after buying an additional 311,679 shares during the last quarter. BlackRock Inc. lifted its stake in shares of DTE Energy by 3.9% in the fourth quarter. BlackRock Inc. now owns 15,212,035 shares of the utilities provider’s stock worth $1,677,888,000 after buying an additional 577,066 shares during the last quarter. Northern Trust Corp lifted its stake in shares of DTE Energy by 3.3% in the fourth quarter. Northern Trust Corp now owns 2,330,047 shares of the utilities provider’s stock worth $257,004,000 after buying an additional 75,242 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of DTE Energy by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,796,612 shares of the utilities provider’s stock worth $198,166,000 after buying an additional 27,301 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of DTE Energy by 39.2% in the fourth quarter. California Public Employees Retirement System now owns 953,273 shares of the utilities provider’s stock worth $105,146,000 after buying an additional 268,690 shares during the last quarter. Institutional investors and hedge funds own 70.94% of the company’s stock.
Shares of DTE Energy stock opened at $128.29 on Thursday. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 3.42 and a beta of 0.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.61 and a current ratio of 0.78. DTE Energy Co has a 52-week low of $94.25 and a 52-week high of $128.41.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.10. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.77 billion. DTE Energy had a net margin of 8.30% and a return on equity of 10.99%. During the same quarter in the previous year, the firm posted $1.91 EPS. Analysts expect that DTE Energy Co will post 6.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, June 14th. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.
In other DTE Energy news, CFO Peter B. Oleksiak sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $125.25, for a total value of $187,875.00. Following the sale, the chief financial officer now owns 40,208 shares of the company’s stock, valued at approximately $5,036,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gerard M. Anderson sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $124.79, for a total transaction of $1,247,900.00. Following the completion of the sale, the chairman now directly owns 78,906 shares in the company, valued at approximately $9,846,679.74. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
A number of analysts have recently weighed in on DTE shares. UBS Group boosted their price objective on shares of DTE Energy from $132.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Credit Suisse Group boosted their target price on shares of DTE Energy from $110.00 to $113.00 and gave the stock an “underperform” rating in a research report on Monday, February 11th. Macquarie set a $123.00 target price on shares of DTE Energy and gave the stock a “buy” rating in a research report on Saturday, February 9th. Finally, ValuEngine raised shares of DTE Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $119.46.
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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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