Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of DTE Energy Co. (NYSE:DTE) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 530,930 shares of the company’s stock after buying an additional 12,518 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in DTE Energy were worth $52,626,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DTE. Advisory Services Network LLC raised its position in DTE Energy by 0.3% in the second quarter. Advisory Services Network LLC now owns 3,239 shares of the company’s stock worth $321,000 after buying an additional 9 shares during the last quarter. Peddock Capital Advisors LLC raised its position in DTE Energy by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 4,723 shares of the company’s stock worth $468,000 after buying an additional 35 shares during the last quarter. CWM LLC raised its position in DTE Energy by 2.2% in the second quarter. CWM LLC now owns 2,355 shares of the company’s stock worth $233,000 after buying an additional 50 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in DTE Energy by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,947 shares of the company’s stock worth $1,382,000 after buying an additional 92 shares during the last quarter. Finally, IBM Retirement Fund raised its position in DTE Energy by 0.7% in the second quarter. IBM Retirement Fund now owns 21,245 shares of the company’s stock worth $2,198,000 after buying an additional 143 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.
DTE Energy Co. (NYSE:DTE) traded up 0.42% during mid-day trading on Monday, hitting $92.39. The company had a trading volume of 1,252,096 shares. DTE Energy Co. has a 1-year low of $77.35 and a 1-year high of $100.45. The company has a 50 day moving average of $93.26 and a 200 day moving average of $93.16. The firm has a market capitalization of $16.58 billion, a PE ratio of 22.31 and a beta of 0.25.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The business earned $2.26 billion during the quarter, compared to analyst estimates of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 earnings per share. Analysts predict that DTE Energy Co. will post $5.15 earnings per share for the current fiscal year.
A number of research firms have commented on DTE. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research report on Monday, June 20th. Barclays PLC reiterated a “buy” rating and set a $108.00 target price on shares of DTE Energy in a report on Thursday, July 28th. Macquarie upped their target price on DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, September 27th. BMO Capital Markets reiterated a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Finally, KeyCorp reiterated an “outperform” rating and set a $102.50 target price (up previously from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. DTE Energy has an average rating of “Buy” and a consensus price target of $103.20.
In other news, Chairman Gerard M. Anderson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $97.96, for a total value of $1,714,300.00. Following the completion of the transaction, the chairman now owns 77,500 shares of the company’s stock, valued at $7,591,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.93% of the stock is currently owned by insiders.
About DTE Energy
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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