Clearbridge Investments LLC grew its position in DTE Energy Co (NYSE:DTE) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,602 shares of the utilities provider’s stock after acquiring an additional 1,273 shares during the quarter. Clearbridge Investments LLC owned about 0.14% of DTE Energy worth $32,383,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. WP Advisors LLC acquired a new stake in DTE Energy in the first quarter valued at $32,000. Claybrook Capital LLC acquired a new position in DTE Energy during the 4th quarter worth approximately $33,000. Sound Income Strategies LLC lifted its position in DTE Energy by 327.4% during the 1st quarter. Sound Income Strategies LLC now owns 265 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 203 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in DTE Energy during the 1st quarter worth approximately $33,000. Finally, TCG Advisors LP acquired a new position in DTE Energy during the 1st quarter worth approximately $34,000. 70.49% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DTE traded down $1.22 during trading on Friday, reaching $130.40. The stock had a trading volume of 571,613 shares, compared to its average volume of 782,698. DTE Energy Co has a one year low of $104.81 and a one year high of $132.09. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $24.11 billion, a PE ratio of 20.70, a PEG ratio of 3.53 and a beta of 0.26. The stock has a 50 day simple moving average of $128.89.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be paid a dividend of $0.945 per share. The ex-dividend date is Friday, September 13th. This represents a $3.78 dividend on an annualized basis and a yield of 2.90%. DTE Energy’s payout ratio is currently 60.00%.
In other DTE Energy news, VP Lisa A. Muschong sold 237 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $128.86, for a total transaction of $30,539.82. Following the completion of the transaction, the vice president now owns 2,100 shares in the company, valued at approximately $270,606. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter B. Oleksiak sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $125.25, for a total value of $187,875.00. Following the transaction, the chief financial officer now owns 40,208 shares of the company’s stock, valued at approximately $5,036,052. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,737 shares of company stock valued at $2,744,715. 0.55% of the stock is owned by company insiders.
Several equities analysts recently commented on the company. UBS Group reissued a “buy” rating and set a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Bank of America reissued a “buy” rating and set a $25.00 price target on shares of Infineon Technologies in a research report on Monday, June 3rd. Barclays reissued a “hold” rating and set a $14.00 price target on shares of MACOM Technology Solutions in a research report on Thursday, June 20th. Zacks Investment Research downgraded Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Credit Suisse Group set a $199.00 price objective on NextEra Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. DTE Energy currently has an average rating of “Hold” and a consensus target price of $123.31.
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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