1832 Asset Management L.P. acquired a new position in DTE Energy Company (NYSE:DTE) during the third quarter, Holdings Channel reports. The institutional investor acquired 10,301 shares of the company’s stock, valued at approximately $965,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of DTE. Cohen & Steers Inc. increased its position in shares of DTE Energy Company by 3,866.0% in the second quarter. Cohen & Steers Inc. now owns 19,761,823 shares of the company’s stock worth $610,245,000 after buying an additional 19,263,546 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of DTE Energy Company during the third quarter worth $61,922,000. Ameriprise Financial Inc. increased its position in shares of DTE Energy Company by 33.0% in the third quarter. Ameriprise Financial Inc. now owns 2,480,460 shares of the company’s stock worth $232,365,000 after buying an additional 615,874 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of DTE Energy Company by 201.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 815,827 shares of the company’s stock worth $80,865,000 after buying an additional 545,100 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of DTE Energy Company by 45.7% in the third quarter. Nordea Investment Management AB now owns 1,270,285 shares of the company’s stock worth $118,988,000 after buying an additional 398,404 shares during the period. Institutional investors and hedge funds own 67.25% of the company’s stock.
Shares of DTE Energy Company (NYSE:DTE) traded up 0.15% during mid-day trading on Friday, reaching $97.36. 1,173,396 shares of the company traded hands. DTE Energy Company has a 52 week low of $81.75 and a 52 week high of $100.45. The company has a market capitalization of $17.47 billion, a P/E ratio of 21.43 and a beta of 0.20. The stock’s 50-day moving average is $98.26 and its 200-day moving average is $95.34.
DTE Energy Company (NYSE:DTE) last released its earnings results on Thursday, February 9th. The company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.05. DTE Energy Company had a return on equity of 10.60% and a net margin of 8.17%. The firm earned $2.87 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $1.01 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. On average, equities analysts predict that DTE Energy Company will post $5.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, March 20th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, March 16th. DTE Energy Company’s dividend payout ratio (DPR) is presently 68.46%.
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DTE has been the subject of a number of research reports. Jefferies Group LLC initiated coverage on shares of DTE Energy Company in a research note on Monday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Bank of America Corporation raised shares of DTE Energy Company from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, November 22nd. Zacks Investment Research cut shares of DTE Energy Company from a “buy” rating to a “hold” rating in a research note on Tuesday, January 24th. Barclays PLC boosted their target price on shares of DTE Energy Company from $101.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, January 20th. Finally, Credit Suisse Group initiated coverage on shares of DTE Energy Company in a research note on Wednesday, January 25th. They set a “neutral” rating and a $102.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. DTE Energy Company presently has an average rating of “Buy” and a consensus price target of $102.94.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $93.74, for a total value of $1,406,100.00. Following the completion of the sale, the chairman now owns 90,000 shares in the company, valued at $8,436,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa A. Muschong sold 520 shares of the firm’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $95.95, for a total transaction of $49,894.00. Following the completion of the sale, the vice president now owns 2,466 shares of the company’s stock, valued at approximately $236,612.70. The disclosure for this sale can be found here. Insiders sold a total of 25,520 shares of company stock valued at $2,410,294 in the last 90 days. Company insiders own 0.93% of the company’s stock.
DTE Energy Company Company Profile
DTE Energy Company (DTE Energy) is a diversified energy company. The Company’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). Its segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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