Gateway Investment Advisers LLC lifted its position in shares of DTE Energy (NYSE:DTE – Get Rating) by 49.3% in the first quarter, HoldingsChannel.com reports. The firm owned 6,531 shares of the utilities provider’s stock after purchasing an additional 2,157 shares during the period. Gateway Investment Advisers LLC’s holdings in DTE Energy were worth $863,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of DTE Energy by 7.5% during the fourth quarter. BlackRock Inc. now owns 17,332,531 shares of the utilities provider’s stock worth $2,071,930,000 after purchasing an additional 1,214,632 shares during the period. Capital Research Global Investors boosted its holdings in shares of DTE Energy by 2.2% during the fourth quarter. Capital Research Global Investors now owns 15,598,877 shares of the utilities provider’s stock worth $1,864,690,000 after purchasing an additional 340,983 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DTE Energy by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 3,542,744 shares of the utilities provider’s stock worth $422,391,000 after purchasing an additional 53,459 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of DTE Energy by 65.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,738,112 shares of the utilities provider’s stock worth $327,311,000 after purchasing an additional 1,083,087 shares during the period. Finally, Invesco Ltd. lifted its holdings in DTE Energy by 12.3% in the fourth quarter. Invesco Ltd. now owns 1,925,229 shares of the utilities provider’s stock worth $230,142,000 after buying an additional 210,638 shares during the period. Institutional investors own 72.21% of the company’s stock.
Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of DTE Energy from $143.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Credit Suisse Group upgraded shares of DTE Energy from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $142.00 to $140.00 in a report on Monday, May 23rd. Argus raised their price objective on shares of DTE Energy from $130.00 to $132.00 in a report on Thursday, March 10th. Citigroup raised their price objective on shares of DTE Energy from $134.00 to $146.00 in a report on Tuesday, May 3rd. Finally, StockNews.com initiated coverage on shares of DTE Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.91.
Shares of NYSE DTE opened at $122.91 on Friday. The company has a market capitalization of $23.81 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 3.39 and a beta of 0.63. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.51 and a current ratio of 0.64. The company has a 50 day simple moving average of $129.42 and a two-hundred day simple moving average of $125.17. DTE Energy has a fifty-two week low of $107.38 and a fifty-two week high of $140.23.
DTE Energy (NYSE:DTE – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The utilities provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.25. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $3.53 billion. DTE Energy had a net margin of 5.59% and a return on equity of 13.58%. During the same quarter last year, the firm earned $2.44 earnings per share. On average, analysts forecast that DTE Energy will post 6.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, September 19th will be given a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, September 16th. DTE Energy’s dividend payout ratio (DPR) is currently 76.13%.
In related news, VP Lisa A. Muschong sold 600 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. Following the completion of the sale, the vice president now owns 3,485 shares of the company’s stock, valued at $467,965.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.
About DTE Energy (Get Rating)
DTE Energy Company engages in the utility operations. The company’s Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 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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Source: defenseworld.net
