Sequoia Financial Advisors LLC reduced its holdings in shares of DTE Energy Co (NYSE:DTE) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,714 shares of the utilities provider’s stock after selling 965 shares during the period. Sequoia Financial Advisors LLC’s holdings in DTE Energy were worth $923,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Capital World Investors boosted its position in shares of DTE Energy by 4.6% during the 4th quarter. Capital World Investors now owns 19,247,087 shares of the utilities provider’s stock valued at $2,499,619,000 after acquiring an additional 838,131 shares in the last quarter. BlackRock Inc. boosted its position in DTE Energy by 2.2% in the first quarter. BlackRock Inc. now owns 17,008,450 shares of the utilities provider’s stock valued at $1,615,291,000 after buying an additional 359,455 shares in the last quarter. State Street Corp boosted its position in DTE Energy by 2.9% in the fourth quarter. State Street Corp now owns 10,160,610 shares of the utilities provider’s stock valued at $1,329,552,000 after buying an additional 287,268 shares in the last quarter. Geode Capital Management LLC boosted its position in DTE Energy by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 3,147,168 shares of the utilities provider’s stock valued at $407,941,000 after buying an additional 233,693 shares in the last quarter. Finally, Boston Partners boosted its position in DTE Energy by 4.2% in the fourth quarter. Boston Partners now owns 2,069,728 shares of the utilities provider’s stock valued at $268,787,000 after buying an additional 84,275 shares in the last quarter. Institutional investors and hedge funds own 71.91% of the company’s stock.
In other DTE Energy news, CFO Peter B. Oleksiak sold 1,800 shares of the company’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 value of $242,892.00. Following the completion of the sale, the chief financial officer now owns 49,034 shares of the company’s stock, valued at $6,616,647.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 400 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $101.93, for a total transaction of $40,772.00. Following the completion of the sale, the senior vice president now directly owns 5,300 shares of the company’s stock, valued at approximately $540,229. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
Shares of DTE traded up $1.08 on Friday, reaching $102.12. 803,840 shares of the company’s stock were exchanged, compared to its average volume of 1,366,687. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $19.46 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. The business has a 50 day moving average price of $101.17 and a two-hundred day moving average price of $117.03. DTE Energy Co has a 12 month low of $71.21 and a 12 month high of $135.67.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.08). The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate 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 firm earned $2.05 earnings per share. Equities research analysts predict that DTE Energy Co will post 6.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a dividend of $1.013 per share. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, June 12th. DTE Energy’s dividend payout ratio (DPR) is 64.29%.
A number of equities analysts have commented on the stock. Credit Suisse Group reduced 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. Seaport Global Securities assumed coverage on shares of DTE Energy in a research note on Wednesday. They issued a “buy” rating and a $121.00 target price for the company. Citigroup raised shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Thursday, April 2nd. JPMorgan Chase & Co. dropped their target price on shares of DTE Energy from $140.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Finally, UBS Group dropped their target price on shares of DTE Energy from $150.00 to $126.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $125.92.
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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