DTE Energy Company (DTE) Holdings Raised by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System boosted its holdings in shares of DTE Energy Company (NYSE:DTE) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,479 shares of the utilities provider’s stock after purchasing an additional 4,631 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of DTE Energy worth $27,750,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Edgestream Partners L.P. lifted its stake in DTE Energy by 24.2% during the third quarter. Edgestream Partners L.P. now owns 8,071 shares of the utilities provider’s stock worth $867,000 after purchasing an additional 1,570 shares during the last quarter. ARP Americas LLC bought a new stake in DTE Energy during the third quarter worth $201,000. Canada Pension Plan Investment Board lifted its stake in DTE Energy by 3.3% during the third quarter. Canada Pension Plan Investment Board now owns 233,457 shares of the utilities provider’s stock worth $25,064,000 after purchasing an additional 7,400 shares during the last quarter. Investment Partners Ltd. OH ADV bought a new stake in DTE Energy during the third quarter worth $254,000. Finally, E&G Advisors LP bought a new stake in DTE Energy during the third quarter worth $220,000. Hedge funds and other institutional investors own 68.62% of the company’s stock.
A number of research analysts have recently commented on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a research note on Tuesday, August 29th. KeyCorp reiterated a “buy” rating and issued a $113.00 price target on shares of DTE Energy in a research note on Sunday, August 27th. BidaskClub upgraded DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $111.50.
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Shares of DTE Energy Company (NYSE:DTE) opened at $111.58 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.08 and a quick ratio of 0.77. The firm has a market capitalization of $19,894.38, a price-to-earnings ratio of 21.53, a PEG ratio of 3.34 and a beta of 0.23.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. equities research analysts expect that DTE Energy Company will post 5.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be paid a $0.8825 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.53 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, December 15th. DTE Energy’s payout ratio is currently 60.44%.
In other DTE Energy news, insider Mark W. Stiers sold 3,632 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the completion of the transaction, the insider now directly owns 25,257 shares in the company, valued at $2,779,027.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
DTE Energy Company Profile
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