US Bancorp DE lessened its holdings in shares of DTE Energy (NYSE:DTE – Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,088 shares of the utilities provider’s stock after selling 764 shares during the quarter. US Bancorp DE’s holdings in DTE Energy were worth $2,766,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Enterprise Financial Services Corp bought a new stake in DTE Energy during the fourth quarter worth approximately $223,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of DTE Energy in the fourth quarter valued at about $256,000. Nemes Rush Group LLC increased its stake in shares of DTE Energy by 71.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,331 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 975 shares during the period. Assetmark Inc. increased its stake in shares of DTE Energy by 17.1% in the fourth quarter. Assetmark Inc. now owns 2,118 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 309 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of DTE Energy by 7.7% during the 4th quarter. Corient Private Wealth LLC now owns 63,477 shares of the utilities provider’s stock worth $6,999,000 after purchasing an additional 4,556 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.
DTE Energy Stock Performance
Shares of DTE stock opened at $112.73 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. The company’s fifty day simple moving average is $111.26 and its 200-day simple moving average is $108.84. The firm has a market cap of $23.33 billion, a PE ratio of 18.45, a P/E/G ratio of 2.06 and a beta of 0.64. DTE Energy has a 12 month low of $90.14 and a 12 month high of $117.44.
DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. Equities research analysts expect that DTE Energy will post 6.7 EPS for the current fiscal year.
DTE Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, June 17th. DTE Energy’s dividend payout ratio is presently 66.78%.
Insider Buying and Selling
In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares of the company’s stock, valued at approximately $4,862,836. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research firms have issued reports on DTE. JPMorgan Chase & Co. raised their price target on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. BMO Capital Markets boosted their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. KeyCorp raised their target price on shares of DTE Energy from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Barclays boosted their price target on shares of DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.30.
Read Our Latest Stock Report on DTE
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company’s Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.
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Source: defenseworld.net
