BT Investment Management Ltd cut its stake in DTE Energy Company (NYSE:DTE) by 60.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,084 shares of the utilities provider’s stock after selling 51,452 shares during the period. BT Investment Management Ltd’s holdings in DTE Energy were worth $3,552,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Pacad Investment Ltd. purchased a new position in DTE Energy in the second quarter valued at about $106,000. Gradient Investments LLC increased its holdings in DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after buying an additional 3 shares in the last quarter. Sun Life Financial INC increased its holdings in DTE Energy by 13,030.0% in the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock valued at $139,000 after buying an additional 1,303 shares in the last quarter. Vantage Investment Advisors LLC increased its holdings in DTE Energy by 0.8% in the second quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock valued at $140,000 after buying an additional 10 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in DTE Energy by 335.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,032 shares in the last quarter. 68.62% of the stock is owned by institutional investors.
DTE has been the subject of a number of research analyst reports. BidaskClub cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. KeyCorp reaffirmed a “buy” rating and issued a $113.00 target price on shares of DTE Energy in a report on Sunday, August 27th. Credit Suisse Group dropped their target price on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Bank of America Corporation started coverage on shares of DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 target price for the company. Finally, Jefferies Group LLC reissued a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $111.50.
DTE Energy Company (DTE) opened at $111.58 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market capitalization of $19,894.38, a price-to-earnings ratio of 21.53, a P/E/G ratio of 3.34 and a beta of 0.23.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. analysts anticipate that DTE Energy Company will post 5.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be given a dividend of $0.8825 per share. The ex-dividend date is Friday, December 15th. This represents a $3.53 dividend on an annualized basis and a yield of 3.16%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio (DPR) is 60.44%.
In related news, insider Mark W. Stiers sold 3,632 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the sale, the insider now owns 25,257 shares in the company, valued at $2,779,027.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.
DTE Energy Company Profile
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