Ontario Teachers Pension Plan Board cut its position in DTE Energy Co (NYSE:DTE) by 59.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,862 shares of the utilities provider’s stock after selling 14,749 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in DTE Energy were worth $937,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. AlphaCore Capital LLC bought a new stake in DTE Energy in the 1st quarter valued at about $26,000. Sowa Financial Group Inc. bought a new stake in DTE Energy in the 4th quarter valued at about $27,000. Raab & Moskowitz Asset Management LLC bought a new stake in DTE Energy in the 4th quarter valued at about $31,000. Tarbox Family Office Inc. lifted its position in DTE Energy by 567.6% in the 4th quarter. Tarbox Family Office Inc. now owns 247 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 210 shares during the last quarter. Finally, Citizens Financial Group Inc RI lifted its position in DTE Energy by 401.1% in the 1st quarter. Citizens Financial Group Inc RI now owns 436 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 71.91% of the company’s stock.
DTE Energy stock opened at $102.12 on Friday. The firm’s 50 day simple moving average is $101.17 and its 200-day simple moving average is $117.03. The company has a market cap of $19.46 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.89 and a quick ratio of 0.71. DTE Energy Co has a fifty-two week low of $71.21 and a fifty-two week high of $135.67.
DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.08). The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.45 billion. DTE Energy had a return on equity of 9.82% and a net margin of 9.10%. During the same period last year, the business earned $2.05 earnings per share. On average, analysts expect that DTE Energy Co will post 6.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a dividend of $1.013 per share. This represents a $4.05 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, June 12th. DTE Energy’s dividend payout ratio is currently 64.29%.
DTE has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 price target on the stock in a research report on Monday, January 27th. Credit Suisse Group dropped their price target on shares of DTE Energy from $140.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley boosted their price target on shares of DTE Energy from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. lowered their price objective on shares of DTE Energy from $140.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Finally, Citigroup raised shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Thursday, April 2nd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $125.92.
In related news, CFO Peter B. Oleksiak sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $134.94, for a total transaction of $242,892.00. Following the completion of the sale, the chief financial officer now directly owns 49,034 shares in the company, valued at $6,616,647.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Joann Chavez sold 400 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $101.93, for a total transaction of $40,772.00. Following the sale, the senior vice president now owns 5,300 shares of the company’s stock, valued at $540,229. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
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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