New Mexico Educational Retirement Board cut its position in shares of DTE Energy Company (NYSE:DTE) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,646 shares of the utilities provider’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in DTE Energy were worth $1,782,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DTE. Vanguard Group Inc. boosted its stake in shares of DTE Energy by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,612,462 shares of the utilities provider’s stock worth $1,900,519,000 after buying an additional 220,454 shares during the last quarter. BlackRock Inc. boosted its stake in shares of DTE Energy by 2,370.1% in the first quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock worth $1,478,058,000 after buying an additional 13,889,160 shares during the last quarter. State Street Corp boosted its stake in shares of DTE Energy by 1.4% in the first quarter. State Street Corp now owns 9,375,298 shares of the utilities provider’s stock worth $957,313,000 after buying an additional 129,352 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of DTE Energy by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock worth $334,567,000 after buying an additional 461,310 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of DTE Energy by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,911,309 shares of the utilities provider’s stock worth $195,164,000 after buying an additional 113,658 shares during the last quarter. 67.75% of the stock is currently owned by hedge funds and other institutional investors.

DTE Energy Company (NYSE:DTE) opened at 107.87 on Friday. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of 18.57 and a beta of 0.21. DTE Energy Company has a 12-month low of $89.66 and a 12-month high of $111.35. 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 issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $0.98 EPS. DTE Energy’s revenue was up 26.2% on a year-over-year basis. Equities research analysts forecast that DTE Energy Company will post $5.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a yield of 3.06%. DTE Energy’s dividend payout ratio (DPR) is presently 56.60%.

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DTE has been the topic of a number of recent research reports. Barclays PLC restated an “overweight” rating and issued a $115.00 target price (up from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. BidaskClub lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and issued a $117.00 target price (up from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $108.00.

In other DTE Energy news, COO Gerardo Norcia sold 4,838 shares of DTE Energy stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $110.73, for a total transaction of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Gerard M. Anderson sold 12,000 shares of DTE Energy stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the transaction, the chairman now directly owns 80,000 shares in the company, valued at approximately $8,546,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,263 shares of company stock worth $3,489,815. Company insiders own 0.53% of the company’s stock.

About DTE Energy

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

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