AGF Investments Inc. Takes $2.69 Million Position in DTE Energy Co (NYSE:DTE)

AGF Investments Inc. bought a new stake in shares of DTE Energy Co (NYSE:DTE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,268 shares of the utilities provider’s stock, valued at approximately $2,685,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTE. FMR LLC lifted its holdings in shares of DTE Energy by 6.4% during the first quarter. FMR LLC now owns 175,821 shares of the utilities provider’s stock valued at $21,931,000 after purchasing an additional 10,517 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of DTE Energy by 52.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 581 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 200 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of DTE Energy by 5.1% during the fourth quarter. Strategic Investment Advisors MI now owns 2,740 shares of the utilities provider’s stock valued at $356,000 after purchasing an additional 133 shares during the last quarter. Advisor Partners LLC lifted its holdings in shares of DTE Energy by 3.3% during the fourth quarter. Advisor Partners LLC now owns 5,418 shares of the utilities provider’s stock valued at $715,000 after purchasing an additional 173 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of DTE Energy by 35.4% during the fourth quarter. Strs Ohio now owns 284,492 shares of the utilities provider’s stock valued at $36,946,000 after purchasing an additional 74,446 shares during the last quarter. 71.91% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on DTE shares. Evercore ISI raised DTE Energy from an “in-line” rating to an “outperform” rating and set a $139.00 price objective for the company in a research note on Monday, January 27th. Vertical Research started coverage on DTE Energy in a research note on Monday, February 24th. They issued a “hold” rating and a $143.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on DTE Energy from $140.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Wells Fargo & Co reduced their price objective on DTE Energy from $153.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, Seaport Global Securities started coverage on DTE Energy in a research note on Wednesday. They issued a “buy” rating and a $121.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $125.92.

Shares of DTE stock opened at $102.12 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.89 and a quick ratio of 0.71. DTE Energy Co has a fifty-two week low of $71.21 and a fifty-two week high of $135.67. The stock’s 50-day moving average is $101.17 and its two-hundred day moving average is $117.03. The firm has a market cap of $19.46 billion, a P/E ratio of 17.37, a PEG ratio of 2.81 and a beta of 0.60.

DTE Energy (NYSE:DTE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.08). DTE Energy had a return on equity of 9.82% and a net margin of 9.10%. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the company earned $2.05 earnings per share. As a group, research analysts expect that DTE Energy Co will post 6.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.013 per share. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, June 12th. DTE Energy’s dividend payout ratio is 64.29%.

In other news, CFO Peter B. Oleksiak sold 1,800 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $134.94, for a total transaction of $242,892.00. Following the transaction, the chief financial officer now owns 49,034 shares of the company’s stock, valued at approximately $6,616,647.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 400 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $101.93, for a total value of $40,772.00. Following the transaction, the senior vice president now directly owns 5,300 shares in the company, valued at approximately $540,229. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

DTE Energy Company Profile

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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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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