Virtu Financial LLC lifted its holdings in DTE Energy (NYSE:DTE) by 3,933.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,122 shares of the utilities provider’s stock after acquiring an additional 97,640 shares during the period. DTE Energy accounts for about 1.3% of Virtu Financial LLC’s portfolio, making the stock its 5th biggest holding. Virtu Financial LLC owned approximately 0.05% of DTE Energy worth $12,976,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. purchased a new stake in DTE Energy during the first quarter valued at approximately $27,000. Atlas Capital Advisors LLC raised its position in DTE Energy by 336.5% during the second quarter. Atlas Capital Advisors LLC now owns 227 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 175 shares during the period. Selective Wealth Management Inc. raised its position in DTE Energy by 57.1% during the second quarter. Selective Wealth Management Inc. now owns 275 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Altshuler Shaham Ltd purchased a new stake in DTE Energy during the first quarter valued at approximately $38,000. Finally, Paragon Wealth Strategies LLC purchased a new stake in shares of DTE Energy in the second quarter worth approximately $38,000. 73.00% of the stock is owned by institutional investors.
DTE has been the topic of several recent analyst reports. Mizuho increased their price target on DTE Energy from $123.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $144.00 to $127.00 in a report on Tuesday, July 6th. They noted that the move was a valuation call. Barclays began coverage on DTE Energy in a report on Wednesday, July 14th. They set a “hold” rating and a $125.00 price objective on the stock. The Goldman Sachs Group upgraded DTE Energy from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, July 13th. Finally, Evercore ISI upgraded DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 price objective on the stock in a report on Friday, September 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, DTE Energy presently has a consensus rating of “Hold” and a consensus price target of $130.08.
DTE Energy (NYSE:DTE) last issued its earnings results on Monday, July 26th. The utilities provider reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.26. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.74 billion. DTE Energy had a return on equity of 12.53% and a net margin of 9.77%. During the same quarter last year, the business posted $1.53 EPS. On average, sell-side analysts predict that DTE Energy will post 5.93 EPS for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Thursday, July 1st. Shareholders of record on Friday, July 2nd were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Thursday, July 1st. This represents a dividend yield of 2.52%. DTE Energy’s payout ratio is currently 45.90%.
In related news, Chairman Gerard M. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $120.53, for a total value of $1,205,300.00. Following the transaction, the chairman now directly owns 18,628 shares in the company, valued at $2,245,232.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Trevor F. Lauer sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $120.41, for a total value of $1,806,150.00. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
About DTE Energy
DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.
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