Franklin Resources Inc. cut its stake in DTE Energy Co (NYSE:DTE) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,894,370 shares of the utilities provider’s stock after selling 3,082 shares during the quarter. Franklin Resources Inc. owned 1.06% of DTE Energy worth $207,358,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in DTE. Spectrum Management Group Inc. bought a new stake in shares of DTE Energy in the third quarter worth approximately $111,000. SeaCrest Wealth Management LLC bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $138,000. Focused Wealth Management Inc bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $164,000. Lenox Wealth Advisors Inc. bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $190,000. Finally, Capital One National Association bought a new stake in shares of DTE Energy in the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 68.43% of the company’s stock.
DTE Energy Co (NYSE:DTE) opened at $100.53 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 1.22. The stock has a market cap of $18,033.57, a P/E ratio of 17.95, a P/E/G ratio of 2.89 and a beta of 0.19. DTE Energy Co has a 1-year low of $97.66 and a 1-year high of $116.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, March 19th will be issued a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Friday, March 16th. DTE Energy’s payout ratio is 55.77%.
In other DTE Energy news, CEO Gerard M. Anderson sold 12,500 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $102.53, for a total transaction of $1,281,625.00. Following the transaction, the chief executive officer now owns 87,358 shares of the company’s stock, valued at $8,956,815.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa A. Muschong sold 1,341 shares of DTE Energy stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $100.97, for a total transaction of $135,400.77. Following the transaction, the vice president now directly owns 2,676 shares in the company, valued at approximately $270,195.72. The disclosure for this sale can be found here. In the last three months, insiders sold 21,521 shares of company stock worth $2,189,173. 0.53% of the stock is currently owned by insiders.
A number of brokerages have 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 Friday, January 5th. Guggenheim reiterated a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a research note on Wednesday, January 3rd. KeyCorp reiterated a “buy” rating and issued a $118.50 price target on shares of DTE Energy in a research note on Friday, December 15th. UBS Group began coverage on shares of DTE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price target for the company. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $107.00 price target (up from $106.00) on shares of DTE Energy in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. DTE Energy currently has a consensus rating of “Hold” and an average price target of $111.55.
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DTE Energy Company Profile
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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