Westpac Banking Corp raised its stake in DTE Energy Co. (NYSE:DTE) by 28.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,610 shares of the company’s stock after buying an additional 2,354 shares during the period. Westpac Banking Corp’s holdings in DTE Energy were worth $1,052,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. NEXT Financial Group Inc increased its position in shares of DTE Energy by 1,352.3% in the second quarter. NEXT Financial Group Inc now owns 1,278 shares of the company’s stock valued at $126,000 after buying an additional 1,190 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock valued at $147,000 after buying an additional 37 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of DTE Energy by 13.8% in the second quarter. Gradient Investments LLC now owns 1,695 shares of the company’s stock valued at $168,000 after buying an additional 205 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of DTE Energy by 138.3% in the second quarter. Global X Management Co. LLC now owns 1,835 shares of the company’s stock valued at $182,000 after buying an additional 1,065 shares during the last quarter. Finally, Klingenstein Fields & Co. LLC purchased a new stake in shares of DTE Energy during the second quarter valued at approximately $203,000. 65.25% of the stock is owned by institutional investors and hedge funds.
Shares of DTE Energy Co. (NYSE:DTE) opened at 93.67 on Friday. The stock has a market capitalization of $16.81 billion, a PE ratio of 22.62 and a beta of 0.26. The firm has a 50-day moving average price of $94.14 and a 200 day moving average price of $92.98. DTE Energy Co. has a one year low of $77.35 and a one year high of $100.45.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. DTE Energy had a return on equity of 10.00% and a net margin of 7.51%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. DTE Energy’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts expect that DTE Energy Co. will post $5.15 EPS for the current fiscal year.
DTE has been the subject of several research reports. Macquarie boosted their price target on DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday. Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. KeyCorp set a $105.00 price target on DTE Energy and gave the stock a “buy” rating in a research report on Monday, September 12th. Barclays PLC reiterated a “buy” rating and set a $108.00 price target on shares of DTE Energy in a research report on Thursday, July 28th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. DTE Energy has an average rating of “Buy” and an average target price of $103.20.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the sale, the chairman now owns 77,500 shares in the company, valued at $7,591,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.93% of the company’s stock.
DTE Energy Company Profile
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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