Brandywine Global Investment Management LLC grew its holdings in shares of DTE Energy Co (NYSE:DTE) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 162,636 shares of the utilities provider’s stock after acquiring an additional 5,254 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in DTE Energy were worth $17,803,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Spectrum Management Group Inc. purchased a new stake in DTE Energy in the third quarter worth $111,000. SeaCrest Wealth Management LLC purchased a new stake in DTE Energy in the fourth quarter worth $138,000. Focused Wealth Management Inc purchased a new stake in DTE Energy in the fourth quarter worth $164,000. Lenox Wealth Advisors Inc. purchased a new stake in DTE Energy in the fourth quarter worth $190,000. Finally, Capital One National Association purchased a new stake in DTE Energy in the fourth quarter worth $201,000. 68.46% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $112.00 price target on shares of DTE Energy in a research note on Friday, February 23rd. Bank of America upped their price target on DTE Energy from $101.00 to $104.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 20th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $107.00 price target (up from $106.00) on shares of DTE Energy in a research note on Tuesday, February 20th. UBS Group assumed coverage on DTE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price target on the stock. Finally, Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. DTE Energy has a consensus rating of “Hold” and a consensus price target of $111.55.
DTE Energy (NYSE:DTE) last released its earnings results on Friday, February 16th. The utilities provider reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.07. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. During the same period in the prior year, the business earned $0.81 EPS. sell-side analysts anticipate that DTE Energy Co will post 5.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, March 19th will be issued a $0.8825 dividend. This represents a $3.53 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s dividend payout ratio (DPR) is 55.77%.
In other DTE Energy news, insider David Ruud sold 7,680 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $100.54, for a total value of $772,147.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lisa A. Muschong sold 1,341 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $100.97, for a total value of $135,400.77. Following the completion of the sale, the vice president now directly owns 2,676 shares in the company, valued at $270,195.72. The disclosure for this sale can be found here. Insiders sold 21,521 shares of company stock worth $2,189,173 over the last three months. Corporate insiders own 0.53% of the company’s stock.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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