Crossmark Global Holdings Inc. Reduces Position in DTE Energy Co (DTE)
Crossmark Global Holdings Inc. lowered its holdings in DTE Energy Co (NYSE:DTE) by 17.9% in the fourth quarter, HoldingsChannel reports. The firm owned 15,824 shares of the utilities provider’s stock after selling 3,442 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in DTE Energy were worth $1,732,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Boston Partners acquired a new position in DTE Energy during the 4th quarter worth approximately $156,376,000. APG Asset Management N.V. grew its holdings in DTE Energy by 190.0% during the 3rd quarter. APG Asset Management N.V. now owns 658,763 shares of the utilities provider’s stock worth $70,725,000 after acquiring an additional 431,600 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in DTE Energy by 25.8% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,290,325 shares of the utilities provider’s stock worth $141,239,000 after acquiring an additional 265,000 shares in the last quarter. Janus Henderson Group PLC grew its holdings in DTE Energy by 10.3% during the 3rd quarter. Janus Henderson Group PLC now owns 1,815,093 shares of the utilities provider’s stock worth $194,869,000 after acquiring an additional 169,341 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in DTE Energy by 24.5% during the 3rd quarter. First Trust Advisors LP now owns 824,104 shares of the utilities provider’s stock worth $88,476,000 after acquiring an additional 162,432 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.
DTE has been the subject of several analyst reports. Wells Fargo & Co upgraded shares of DTE Energy from a “market perform” rating to an “outperform” rating in a report on Friday, January 12th. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. KeyCorp reiterated a “buy” rating and set a $118.50 price target on shares of DTE Energy in a report on Friday, December 15th. Bank of America initiated coverage on shares of DTE Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and set a $121.00 price target on shares of DTE Energy in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. DTE Energy has an average rating of “Hold” and an average price target of $113.75.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, March 19th will be given a dividend of $0.8825 per share. The ex-dividend date is Friday, March 16th. This represents a $3.53 annualized dividend and a dividend yield of 3.45%. DTE Energy’s dividend payout ratio is presently 64.65%.
In other news, Chairman Gerard M. Anderson sold 12,389 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the sale, the chairman now owns 83,000 shares in the company, valued at approximately $9,373,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.
About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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