Dupont Capital Management Corp lowered its stake in shares of DTE Energy Co (NYSE:DTE) by 27.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,324 shares of the utilities provider’s stock after selling 1,998 shares during the period. Dupont Capital Management Corp’s holdings in DTE Energy were worth $572,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd boosted its stake in DTE Energy by 0.6% during the 2nd quarter. Gulf International Bank UK Ltd now owns 45,436 shares of the utilities provider’s stock valued at $4,884,000 after purchasing an additional 250 shares during the last quarter. Strs Ohio boosted its stake in DTE Energy by 5.7% during the 2nd quarter. Strs Ohio now owns 308,786 shares of the utilities provider’s stock valued at $33,194,000 after purchasing an additional 16,536 shares during the last quarter. NBT Bank N A NY acquired a new position in DTE Energy during the 2nd quarter valued at about $382,000. Watson Rebecca acquired a new position in DTE Energy during the 2nd quarter valued at about $32,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in DTE Energy during the 2nd quarter valued at about $1,200,000. Institutional investors and hedge funds own 72.69% of the company’s stock.
DTE has been the subject of a number of analyst reports. Seaport Global Securities assumed coverage on DTE Energy in a research note on Wednesday, May 20th. They set a “buy” rating and a $121.00 price target for the company. Credit Suisse Group cut their target price on DTE Energy from $140.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd. BMO Capital Markets assumed coverage on DTE Energy in a research note on Thursday, July 9th. They issued an “outperform” rating and a $116.00 target price on the stock. Morgan Stanley boosted their target price on DTE Energy from $122.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. DTE Energy has a consensus rating of “Buy” and an average price target of $125.54.
In other DTE Energy news, SVP Joann Chavez sold 400 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 5,300 shares of the company’s stock, valued at approximately $540,229. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.
Shares of DTE stock opened at $115.63 on Friday. The company’s fifty day simple moving average is $108.59 and its two-hundred day simple moving average is $111.00. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.83 and a quick ratio of 0.71. DTE Energy Co has a 1 year low of $71.21 and a 1 year high of $135.67. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 3.06 and a beta of 0.59.
DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.22. DTE Energy had a net margin of 10.13% and a return on equity of 10.50%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. Equities research analysts anticipate that DTE Energy Co will post 6.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $1.013 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $4.05 dividend on an annualized basis and a yield of 3.50%. DTE Energy’s payout ratio is 64.29%.
DTE Energy 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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