New York State Common Retirement Fund lowered its position in shares of DTE Energy Co (NYSE:DTE) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,100 shares of the utilities provider’s stock after selling 2,300 shares during the period. New York State Common Retirement Fund’s holdings in DTE Energy were worth $39,555,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wetherby Asset Management Inc. grew its position in DTE Energy by 4.1% in the 4th quarter. Wetherby Asset Management Inc. now owns 2,480 shares of the utilities provider’s stock worth $274,000 after purchasing an additional 97 shares during the period. Utah Retirement Systems grew its position in DTE Energy by 0.3% in the 4th quarter. Utah Retirement Systems now owns 33,780 shares of the utilities provider’s stock worth $3,726,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System grew its position in DTE Energy by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the utilities provider’s stock worth $1,198,000 after purchasing an additional 100 shares during the period. Rehmann Capital Advisory Group grew its position in DTE Energy by 6.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,742 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 103 shares during the period. Finally, Certified Advisory Corp grew its position in DTE Energy by 18.0% in the 4th quarter. Certified Advisory Corp now owns 687 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 105 shares during the period. 70.94% of the stock is owned by institutional investors.
Shares of DTE Energy stock opened at $128.79 on Friday. The firm has a market cap of $23.60 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.42 and a beta of 0.26. DTE Energy Co has a 1-year low of $94.25 and a 1-year high of $129.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.61 and a current ratio of 0.78.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.10. DTE Energy had a net margin of 8.30% and a return on equity of 10.99%. The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company posted $1.91 EPS. As a group, equities analysts expect that DTE Energy Co will post 6.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, June 14th. DTE Energy’s dividend payout ratio (DPR) is 60.00%.
In related news, insider Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $127.84, for a total transaction of $1,278,400.00. Following the transaction, the insider now owns 6,700 shares in the company, valued at approximately $856,528. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ruth G. Shaw bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $124.27 per share, for a total transaction of $248,540.00. Following the purchase, the director now owns 5,500 shares in the company, valued at approximately $683,485. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 21,500 shares of company stock worth $2,714,175. 0.55% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on DTE shares. Zacks Investment Research raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Macquarie set a $123.00 price target on shares of DTE Energy and gave the stock a “buy” rating in a research note on Saturday, February 9th. ValuEngine upgraded shares of DTE Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Credit Suisse Group lifted their price target on shares of DTE Energy from $110.00 to $113.00 and gave the stock an “underperform” rating in a research note on Monday, February 11th. Finally, UBS Group lifted their price target on shares of DTE Energy from $132.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. DTE Energy presently has a consensus rating of “Hold” and an average target price of $119.46.
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About DTE Energy
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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