Wells Fargo & Company MN Has $36.63 Million Holdings in DTE Energy Co (DTE)
Wells Fargo & Company MN raised its stake in DTE Energy Co (NYSE:DTE) by 23.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 341,144 shares of the utilities provider’s stock after buying an additional 65,611 shares during the period. Wells Fargo & Company MN owned about 0.19% of DTE Energy worth $36,626,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. NGAM Advisors L.P. acquired a new position in shares of DTE Energy in the 2nd quarter valued at about $1,061,000. Janney Montgomery Scott LLC lifted its stake in shares of DTE Energy by 16.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,873 shares of the utilities provider’s stock valued at $516,000 after purchasing an additional 673 shares during the period. Global X Management Co. LLC lifted its stake in shares of DTE Energy by 37.7% in the 2nd quarter. Global X Management Co. LLC now owns 6,575 shares of the utilities provider’s stock valued at $696,000 after purchasing an additional 1,799 shares during the period. Trexquant Investment LP acquired a new position in shares of DTE Energy in the 2nd quarter valued at about $413,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of DTE Energy by 16.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 29,019 shares of the utilities provider’s stock valued at $3,070,000 after purchasing an additional 4,158 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.
DTE Energy Co (NYSE:DTE) opened at $114.01 on Wednesday. DTE Energy Co has a 52 week low of $95.23 and a 52 week high of $116.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.77 and a current ratio of 1.08. The firm has a market capitalization of $20,807.48, a P/E ratio of 22.52, a P/E/G ratio of 3.49 and a beta of 0.23.
DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.05). DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company posted $1.96 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. analysts anticipate that DTE Energy Co will post 5.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be paid a dividend of $0.8825 per share. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.53 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, December 15th. DTE Energy’s dividend payout ratio is 60.44%.
A number of research analysts have recently issued reports on the company. Credit Suisse Group dropped their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Bank of America assumed coverage on DTE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price objective on the stock. Jefferies Group reissued a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. KeyCorp reissued a “buy” rating and issued a $113.00 price objective on shares of DTE Energy in a research note on Sunday, August 27th. Finally, BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $111.50.
In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was 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 directly owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.
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DTE Energy Company Profile
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