DTE Energy Company (DTE) Stake Lowered by Korea Investment CORP

Korea Investment CORP lowered its holdings in DTE Energy Company (NYSE:DTE) by 1.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 85,966 shares of the utilities provider’s stock after selling 1,100 shares during the quarter. Korea Investment CORP’s holdings in DTE Energy were worth $9,229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DTE. Virginia Retirement Systems ET AL grew its stake in DTE Energy by 171.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the utilities provider’s stock worth $1,894,000 after buying an additional 11,300 shares during the last quarter. Swiss National Bank grew its stake in DTE Energy by 9.9% during the 2nd quarter. Swiss National Bank now owns 698,625 shares of the utilities provider’s stock worth $73,908,000 after buying an additional 62,900 shares during the last quarter. GAM Holding AG grew its stake in DTE Energy by 27.0% during the 2nd quarter. GAM Holding AG now owns 24,877 shares of the utilities provider’s stock worth $2,632,000 after buying an additional 5,291 shares during the last quarter. Shell Asset Management Co. grew its stake in DTE Energy by 1.9% during the 2nd quarter. Shell Asset Management Co. now owns 16,404 shares of the utilities provider’s stock worth $1,735,000 after buying an additional 300 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in DTE Energy by 0.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 775,387 shares of the utilities provider’s stock worth $82,028,000 after buying an additional 2,997 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company posted $1.96 EPS. DTE Energy’s revenue was up 10.8% on a year-over-year basis.

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DTE has been the topic of a number of research reports. KeyCorp restated a “buy” rating and set a $113.00 price target on shares of DTE Energy in a research note on Sunday, August 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $121.00 target price on shares of DTE Energy in a research note on Tuesday, August 29th. BidaskClub upgraded DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $111.50.

In other news, insider Larry E. Steward sold 9,999 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the completion of the sale, the insider now owns 39,698 shares in the company, valued at approximately $4,268,328.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark W. Stiers sold 3,632 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the sale, 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. 0.53% of the stock is currently owned by corporate insiders.

DTE Energy Profile

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

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