Calamos Advisors LLC purchased a new position in DTE Energy Co (NYSE:DTE) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 122,158 shares of the utilities provider’s stock, valued at approximately $15,865,000.
A number of other hedge funds have also bought and sold shares of DTE. 1 North Wealth Services LLC bought a new position in DTE Energy in the 3rd quarter worth approximately $27,000. Mechanics Bank Trust Department bought a new position in DTE Energy in the 3rd quarter worth approximately $29,000. Resources Management Corp CT ADV bought a new position in DTE Energy in the 3rd quarter worth approximately $37,000. Stonebridge Capital Advisors LLC bought a new position in DTE Energy in the 2nd quarter worth approximately $45,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in DTE Energy by 190.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 381 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 70.17% of the company’s stock.
NYSE DTE opened at $131.99 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.77. The company has a market capitalization of $24.66 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.30 and a beta of 0.20. DTE Energy Co has a one year low of $110.39 and a one year high of $134.37. The stock has a 50 day moving average price of $127.54 and a 200-day moving average price of $128.34.
DTE Energy (NYSE:DTE) last posted its earnings results on Monday, October 28th. The utilities provider reported $1.91 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. DTE Energy had a net margin of 8.24% and a return on equity of 9.93%. During the same quarter in the prior year, the company posted $2.13 earnings per share. As a group, equities analysts predict that DTE Energy Co will post 6.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $1.013 per share. This is an increase from DTE Energy’s previous quarterly dividend of $0.95. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, December 13th. DTE Energy’s dividend payout ratio is currently 64.29%.
Several research analysts have weighed in on DTE shares. Wells Fargo & Co set a $145.00 price target on DTE Energy and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America upgraded DTE Energy from an “underperform” rating to a “neutral” rating in a research note on Monday, October 21st. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $141.00 to $143.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. started coverage on DTE Energy in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $144.00 price target for the company. Finally, Credit Suisse Group upgraded DTE Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $125.00 to $132.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $133.45.
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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