DTE Energy Company (DTE) Stake Raised by First Trust Advisors LP
First Trust Advisors LP boosted its position in DTE Energy Company (NYSE:DTE) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,672 shares of the utilities provider’s stock after buying an additional 99,632 shares during the period. First Trust Advisors LP’s holdings in DTE Energy were worth $69,998,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Financial Engines Advisors L.L.C. purchased a new position in DTE Energy during the second quarter worth approximately $35,243,000. Trexquant Investment LP purchased a new position in DTE Energy during the second quarter worth approximately $413,000. Global X Management Co. LLC raised its position in DTE Energy by 37.7% in the second quarter. Global X Management Co. LLC now owns 6,575 shares of the utilities provider’s stock worth $696,000 after buying an additional 1,799 shares in the last quarter. Advisor Partners LLC raised its position in DTE Energy by 0.5% in the second quarter. Advisor Partners LLC now owns 4,011 shares of the utilities provider’s stock worth $424,000 after buying an additional 21 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in DTE Energy by 335.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock worth $142,000 after buying an additional 1,032 shares in the last quarter. 67.75% of the stock is owned by hedge funds and other institutional investors.
Shares of DTE Energy Company (NYSE:DTE) opened at 107.87 on Friday. DTE Energy Company has a 52-week low of $89.66 and a 52-week high of $111.35. The stock has a market cap of $19.35 billion, a P/E ratio of 18.57 and a beta of 0.21. The firm has a 50-day moving average of $106.88 and a 200-day moving average of $104.26.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, equities analysts expect that DTE Energy Company will post $5.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is presently 56.60%.
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A number of research firms recently commented on DTE. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a research note on Friday, July 28th. BidaskClub lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $117.00 price objective (up previously from $108.50) on shares of DTE Energy in a research note on Thursday, April 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $115.00 price objective (up previously from $106.00) on shares of DTE Energy in a research note on Sunday, April 23rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $108.00.
In other news, VP Lisa A. Muschong sold 426 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $109.51, for a total value of $46,651.26. Following the completion of the transaction, the vice president now owns 2,543 shares in the company, valued at $278,483.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry E. Steward sold 9,999 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the completion of the transaction, the insider now owns 39,698 shares of the company’s stock, valued at approximately $4,268,328.96. The disclosure for this sale can be found here. Insiders sold 32,263 shares of company stock valued at $3,489,815 in the last quarter. Corporate insiders own 0.53% of the company’s stock.
DTE Energy Company Profile
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