MUFG Securities EMEA plc Takes Position in DTE Energy Co (NYSE:DTE)
MUFG Securities EMEA plc acquired a new stake in DTE Energy Co (NYSE:DTE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 69,400 shares of the utilities provider’s stock, valued at approximately $8,875,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in DTE Energy by 2.2% in the second quarter. Northern Trust Corp now owns 2,470,754 shares of the utilities provider’s stock valued at $315,960,000 after buying an additional 52,102 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of DTE Energy by 6.9% in 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 last quarter. Wells Fargo & Company MN raised its position in shares of DTE Energy by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,360,440 shares of the utilities provider’s stock worth $173,974,000 after acquiring an additional 67,039 shares in the last quarter. Reaves W H & Co. Inc. raised its position in shares of DTE Energy by 1.6% during the 2nd quarter. Reaves W H & Co. Inc. now owns 1,314,737 shares of the utilities provider’s stock worth $168,129,000 after acquiring an additional 21,163 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in DTE Energy by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,240,881 shares of the utilities provider’s stock worth $158,684,000 after purchasing an additional 20,872 shares during the last quarter. 70.90% of the stock is owned by institutional investors and hedge funds.
In related news, Director Gary Torgow purchased 1,537 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average price of $129.95 per share, for a total transaction of $199,733.15. Following the transaction, the director now directly owns 2,537 shares of the company’s stock, valued at approximately $329,683.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gerard M. Anderson sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $128.02, for a total value of $1,472,230.00. Following the sale, the chairman now directly owns 80,406 shares of the company’s stock, valued at $10,293,576.12. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.
Shares of DTE traded up $0.32 during mid-day trading on Wednesday, reaching $128.89. 36,671 shares of the company’s stock were exchanged, compared to its average volume of 959,402. The business’s fifty day simple moving average is $129.07 and its 200-day simple moving average is $126.89. The stock has a market capitalization of $23.52 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.43 and a beta of 0.22. DTE Energy Co has a 52-week low of $106.41 and a 52-week high of $132.50. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.75 and a quick ratio of 0.54.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.10). The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.98 billion. DTE Energy had a net margin of 8.09% and a return on equity of 10.33%. During the same quarter last year, the company earned $1.36 EPS. Equities research analysts predict that DTE Energy Co will post 6.21 earnings per share for the current 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 paid a $0.945 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.78 dividend on an annualized basis and a yield of 2.93%. DTE Energy’s dividend payout ratio is presently 60.00%.
DTE Energy 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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