MetLife Investment Advisors LLC acquired a new stake in shares of DTE Energy Co (NYSE:DTE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,504 shares of the utilities provider’s stock, valued at approximately $6,075,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of DTE Energy by 3.2% during the fourth quarter. BlackRock Inc. now owns 15,036,122 shares of the utilities provider’s stock valued at $1,645,854,000 after acquiring an additional 460,371 shares during the last quarter. Renaissance Technologies LLC boosted its stake in DTE Energy by 13.6% in the 4th quarter. Renaissance Technologies LLC now owns 2,303,300 shares of the utilities provider’s stock worth $252,119,000 after buying an additional 275,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in DTE Energy by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,900,840 shares of the utilities provider’s stock worth $207,621,000 after buying an additional 35,427 shares during the last quarter. Janus Henderson Group PLC boosted its stake in DTE Energy by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,815,093 shares of the utilities provider’s stock worth $194,869,000 after buying an additional 169,341 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in DTE Energy by 8.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,735,342 shares of the utilities provider’s stock worth $189,951,000 after buying an additional 131,866 shares during the last quarter. 68.40% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. KeyCorp reissued a “buy” rating and issued a $118.50 price target on shares of DTE Energy in a research note on Friday, December 15th. Guggenheim reissued a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a research note on Wednesday, January 3rd. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. UBS assumed coverage on DTE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price target on the stock. Finally, Wells Fargo raised DTE Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $110.40.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Friday, February 16th. The utilities provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $2.17 billion. DTE Energy had a return on equity of 10.24% and a net margin of 8.99%. During the same period in the previous year, the company posted $0.81 EPS. sell-side analysts anticipate that DTE Energy Co will post 5.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, March 19th will be paid a $0.8825 dividend. This represents a $3.53 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, March 16th. DTE Energy’s dividend payout ratio is currently 55.77%.
In other news, VP Lisa A. Muschong sold 1,341 shares of DTE Energy stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $100.97, for a total value of $135,400.77. Following the transaction, the vice president now directly owns 2,676 shares of the company’s stock, valued at approximately $270,195.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Ruud sold 7,680 shares of DTE Energy stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $100.54, for a total value of $772,147.20. The disclosure for this sale can be found here. Insiders sold a total of 21,521 shares of company stock worth $2,189,173 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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