Norinchukin Bank The lowered its holdings in DTE Energy Co (NYSE:DTE) by 25.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,829 shares of the utilities provider’s stock after selling 8,700 shares during the period. Norinchukin Bank The’s holdings in DTE Energy were worth $3,303,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. 6 Meridian raised its stake 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 valued at $549,000 after buying an additional 79 shares during the period. BB&T Securities LLC raised its stake in shares of 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 stake in shares of 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 stake in shares of 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, Parallel Advisors LLC raised its stake in shares of DTE Energy by 11.9% in the first quarter. Parallel Advisors LLC now owns 1,027 shares of the utilities provider’s stock valued at $128,000 after buying an additional 109 shares during the period. 71.05% of the stock is currently owned by institutional investors and hedge funds.
In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $131.00, for a total value of $1,310,000.00. Following the completion of the sale, the chief operating officer now owns 17,111 shares in the company, valued at approximately $2,241,541. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Gerard M. Anderson sold 11,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total value of $1,472,230.00. Following the completion of the sale, the chairman now 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. Company insiders own 0.55% of the company’s stock.
A number of research firms recently issued reports on DTE. Barclays reiterated a “hold” rating and set a $131.00 price objective on shares of DTE Energy in a research note on Thursday, June 20th. ValuEngine lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Mizuho began coverage on DTE Energy in a research note on Monday, August 12th. They set a “neutral” rating and a $131.00 price objective on the stock. KeyCorp began coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price objective on the stock. Finally, Bank of America decreased their price objective on DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $128.64.
Shares of DTE traded down $0.32 during midday trading on Monday, reaching $129.66. The stock had a trading volume of 933,763 shares, compared to its average volume of 917,750. The company’s 50-day moving average is $129.14 and its 200 day moving average is $126.38. DTE Energy Co has a 12-month low of $106.41 and a 12-month high of $132.09. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $23.77 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 3.49 and a beta of 0.24.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.10). The firm had revenue of $2.89 billion during 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 quarter in the previous year, the company posted $1.36 earnings per share. Research analysts forecast that DTE Energy Co will post 6.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, September 13th. DTE Energy’s dividend payout ratio is presently 60.00%.
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.
Further Reading: Liquidity
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