DTE Energy Company (DTE) Holdings Lifted by Franklin Resources Inc.

Franklin Resources Inc. raised its position in DTE Energy Company (NYSE:DTE) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,878,509 shares of the utilities provider’s stock after buying an additional 8,450 shares during the period. Franklin Resources Inc. owned about 1.05% of DTE Energy worth $198,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its holdings in DTE Energy by 0.4% in the second quarter. Commonwealth Bank of Australia now owns 19,068 shares of the utilities provider’s stock valued at $2,015,000 after buying an additional 69 shares in the last quarter. Private Advisor Group LLC increased its holdings in DTE Energy by 2.5% in the second quarter. Private Advisor Group LLC now owns 6,218 shares of the utilities provider’s stock valued at $652,000 after buying an additional 152 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in DTE Energy by 0.6% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 4,738 shares of the utilities provider’s stock valued at $501,000 after buying an additional 29 shares in the last quarter. Ffcm LLC increased its holdings in DTE Energy by 7.2% in the second quarter. Ffcm LLC now owns 6,457 shares of the utilities provider’s stock valued at $683,000 after buying an additional 433 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in DTE Energy by 17.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 77,776 shares of the utilities provider’s stock valued at $8,228,000 after buying an additional 11,485 shares in the last quarter. 68.63% of the stock is owned by institutional investors.

Shares of DTE Energy Company (DTE) opened at 112.84 on Friday. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $113.00. The stock has a 50 day moving average of $109.75 and a 200 day moving average of $106.06. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of 19.43 and a beta of 0.22.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. DTE Energy’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities research analysts expect that DTE Energy Company will post $5.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, September 15th. This represents a $3.30 dividend on an annualized basis and a yield of 2.92%. DTE Energy’s payout ratio is currently 56.60%.

In other news, Chairman Gerard M. Anderson sold 12,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the completion of the transaction, the chairman now owns 80,000 shares in the company, valued at approximately $8,546,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark W. Stiers sold 3,632 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the completion of the transaction, the insider now owns 25,257 shares of the company’s stock, valued at approximately $2,779,027.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,631 shares of company stock valued at $2,756,681. 0.53% of the stock is owned by insiders.

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DTE has been the subject of a number of recent analyst reports. BidaskClub cut shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a report on Tuesday, August 29th. KeyCorp reaffirmed a “buy” rating and issued a $113.00 price objective on shares of DTE Energy in a report on Sunday, August 27th. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $109.20.

About DTE Energy

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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