Strs Ohio increased its position in shares of DTE Energy Company (NYSE:DTE) by 28.1% during the second quarter, Holdings Channel reports. The institutional investor owned 26,002 shares of the utilities provider’s stock after buying an additional 5,704 shares during the period. Strs Ohio’s holdings in DTE Energy were worth $2,750,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. increased its position in DTE Energy by 22.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,062 shares of the utilities provider’s stock worth $2,968,000 after buying an additional 5,324 shares in the last quarter. Hexavest Inc. increased its position in DTE Energy by 3.1% in the first quarter. Hexavest Inc. now owns 313,191 shares of the utilities provider’s stock worth $31,980,000 after buying an additional 9,304 shares in the last quarter. State of Alaska Department of Revenue increased its position in DTE Energy by 279.8% in the first quarter. State of Alaska Department of Revenue now owns 10,991 shares of the utilities provider’s stock worth $1,121,000 after buying an additional 8,097 shares in the last quarter. Huntington National Bank increased its position in DTE Energy by 3.5% in the first quarter. Huntington National Bank now owns 14,454 shares of the utilities provider’s stock worth $1,476,000 after buying an additional 491 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in DTE Energy during the first quarter worth approximately $283,000. 67.75% of the stock is owned by institutional investors.
DTE Energy Company (NYSE DTE) opened at 108.53 on Thursday. DTE Energy Company has a 12-month low of $89.66 and a 12-month high of $111.35. The stock has a market cap of $19.47 billion, a PE ratio of 18.69 and a beta of 0.21. The firm has a 50-day moving average price of $106.96 and a 200-day moving average price of $104.15.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $0.98 EPS. DTE Energy’s revenue for the quarter was up 26.2% compared to the same quarter last year. Analysts forecast that DTE Energy Company will post $5.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, September 15th. DTE Energy’s payout ratio is presently 56.60%.
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A number of research analysts have recently commented on the stock. BidaskClub downgraded shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets reissued a “hold” rating and set a $111.00 target price on shares of DTE Energy in a research report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and set a $117.00 target price (up previously from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Finally, Barclays PLC reissued an “overweight” rating and set a $115.00 target price (up previously from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $108.00.
In other news, VP Lisa A. Muschong sold 426 shares of DTE Energy stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $109.51, for a total transaction of $46,651.26. Following the sale, the vice president now owns 2,543 shares of the company’s stock, valued at approximately $278,483.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerardo Norcia sold 4,838 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $110.73, for a total value of $535,711.74. Following the sale, the chief operating officer now directly owns 115,930 shares in the company, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. Insiders have sold a total of 32,263 shares of company stock worth $3,489,815 in the last three months. 0.53% of the stock is owned by insiders.
About DTE Energy
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