Janney Montgomery Scott LLC boosted its holdings in shares of DTE Energy (NYSE:DTE) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,739 shares of the utilities provider’s stock after acquiring an additional 565 shares during the quarter. Janney Montgomery Scott LLC’s holdings in DTE Energy were worth $1,829,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Columbia Asset Management boosted its holdings in DTE Energy by 8.6% during the 4th quarter. Columbia Asset Management now owns 21,475 shares of the utilities provider’s stock valued at $2,607,000 after acquiring an additional 1,706 shares during the period. Inspire Advisors LLC purchased a new stake in shares of DTE Energy in the 4th quarter worth $102,000. Oxler Private Wealth LLC purchased a new stake in shares of DTE Energy in the 4th quarter worth $121,000. Hsbc Holdings PLC lifted its holdings in shares of DTE Energy by 2.6% in the 4th quarter. Hsbc Holdings PLC now owns 246,475 shares of the utilities provider’s stock worth $29,635,000 after buying an additional 6,251 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in shares of DTE Energy in the 4th quarter worth $1,993,000. Institutional investors own 73.56% of the company’s stock.
Several equities research analysts have weighed in on the company. UBS Group reiterated a “neutral” rating and issued a $144.00 target price (up from $137.00) on shares of DTE Energy in a report on Tuesday, May 4th. Bank of America reiterated an “underperform” rating and issued a $131.00 target price on shares of DTE Energy in a report on Monday. Wells Fargo & Company upped their target price on DTE Energy from $148.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, May 4th. Morgan Stanley upped their target price on DTE Energy from $149.00 to $153.00 and gave the stock an “equal weight” rating in a report on Monday, May 3rd. Finally, Wolfe Research restated a “peer perform” rating and set a $139.00 price objective (up from $128.00) on shares of DTE Energy in a research note on Monday, April 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $135.13.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Monday, April 26th. The utilities provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. DTE Energy had a return on equity of 11.43% and a net margin of 11.30%. During the same period last year, the firm earned $1.66 EPS. Sell-side analysts forecast that DTE Energy will post 7.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be paid a $1.085 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $4.34 dividend on an annualized basis and a dividend yield of 3.13%. DTE Energy’s payout ratio is 68.89%.
In related news, Director David A. Thomas bought 395 shares of the stock in a transaction dated Wednesday, February 24th. The shares were purchased at an average price of $126.56 per share, for a total transaction of $49,991.20. Following the completion of the purchase, the director now directly owns 2,068 shares of the company’s stock, valued at $261,726.08. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark C. Rolling sold 2,389 shares of the company’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $124.45, for a total value of $297,311.05. Following the completion of the sale, the chief accounting officer now owns 11,000 shares in the company, valued at approximately $1,368,950. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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