Wealth Enhancement Advisory Services LLC acquired a new stake in shares of DTE Energy Co (NYSE:DTE) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 20,575 shares of the utilities provider’s stock, valued at approximately $2,654,000.
Other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in DTE Energy by 23.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,334,039 shares of the utilities provider’s stock worth $166,410,000 after acquiring an additional 252,418 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in DTE Energy by 17.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,293,401 shares of the utilities provider’s stock valued at $161,338,000 after acquiring an additional 194,255 shares during the period. First Trust Advisors LP boosted its holdings in DTE Energy by 37.4% during the 2nd quarter. First Trust Advisors LP now owns 664,769 shares of the utilities provider’s stock valued at $85,011,000 after acquiring an additional 180,912 shares during the period. California Public Employees Retirement System boosted its holdings in DTE Energy by 18.0% during the 1st quarter. California Public Employees Retirement System now owns 1,125,041 shares of the utilities provider’s stock valued at $140,338,000 after acquiring an additional 171,768 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in DTE Energy by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock valued at $258,174,000 after acquiring an additional 150,611 shares during the period. Institutional investors own 70.32% of the company’s stock.
In other news, Chairman Gerard M. Anderson sold 11,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total value of $1,472,230.00. Following the completion of the transaction, the chairman now owns 80,406 shares of the company’s stock, valued at approximately $10,293,576.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark W. Stiers sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $127.84, for a total value of $1,278,400.00. Following the completion of the transaction, the insider now directly owns 6,700 shares of the company’s stock, valued at approximately $856,528. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,737 shares of company stock valued at $2,781,170. Company insiders own 0.55% of the company’s stock.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.10). DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the business posted $1.36 EPS. As a group, sell-side analysts anticipate that DTE Energy Co will post 6.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, September 13th. DTE Energy’s dividend payout ratio (DPR) is currently 60.00%.
DTE has been the subject of several analyst reports. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Tuesday, April 23rd. Bank of America dropped their target price on DTE Energy from $124.00 to $122.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Credit Suisse Group set a $117.00 target price on DTE Energy and gave the company a “sell” rating in a report on Monday, April 22nd. Finally, Barclays restated a “hold” rating and set a $131.00 target price on shares of DTE Energy in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. DTE Energy currently has a consensus rating of “Hold” and a consensus price target of $126.36.
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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