DTE Energy Co (DTE) Holdings Lowered by Comerica Bank

Comerica Bank trimmed its stake in DTE Energy Co (NYSE:DTE) by 13.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,838 shares of the utilities provider’s stock after selling 12,700 shares during the quarter. Comerica Bank’s holdings in DTE Energy were worth $8,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Neuburgh Advisers LLC lifted its position in shares of DTE Energy by 8.2% in the second quarter. Neuburgh Advisers LLC now owns 6,952 shares of the utilities provider’s stock worth $721,000 after purchasing an additional 528 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of DTE Energy by 7.3% in the second quarter. Riverhead Capital Management LLC now owns 7,978 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 541 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of DTE Energy by 14.5% in the third quarter. Private Advisor Group LLC now owns 4,590 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 582 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of DTE Energy by 4.3% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 14,286 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 595 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of DTE Energy by 5.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 11,165 shares of the utilities provider’s stock worth $1,157,000 after purchasing an additional 600 shares in the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on DTE. Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “hold” rating in a research report on Friday, October 26th. Wells Fargo & Co raised their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, October 25th. Bank of America raised their price objective on shares of DTE Energy from $101.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 25th. Credit Suisse Group lowered shares of DTE Energy from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $109.00 to $111.00 in a research report on Thursday, October 25th. Finally, Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $114.36.

Shares of DTE opened at $118.14 on Friday. The company has a market cap of $20.89 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.04 and a beta of 0.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.10 and a current ratio of 1.47. DTE Energy Co has a twelve month low of $94.25 and a twelve month high of $118.50.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, October 24th. The utilities provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.39. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.29 billion. DTE Energy had a net margin of 8.85% and a return on equity of 11.61%. During the same quarter last year, the firm earned $1.48 earnings per share. Analysts predict that DTE Energy Co will post 6.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be given a $0.945 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $0.88. This represents a $3.78 dividend on an annualized basis and a dividend yield of 3.20%. DTE Energy’s dividend payout ratio (DPR) is currently 63.15%.

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

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