Gulf International Bank UK Ltd raised its holdings in DTE Energy Co (NYSE:DTE) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,012 shares of the utilities provider’s stock after purchasing an additional 7,520 shares during the quarter. Gulf International Bank UK Ltd’s holdings in DTE Energy were worth $6,876,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of DTE. ELM Advisors LLC acquired a new stake in shares of DTE Energy in the 3rd quarter valued at $120,000. Valeo Financial Advisors LLC boosted its holdings in shares of DTE Energy by 89.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the utilities provider’s stock valued at $172,000 after acquiring an additional 731 shares in the last quarter. Polaris Greystone Financial Group LLC acquired a new stake in shares of DTE Energy during the 3rd quarter valued at $193,000. Truvestments Capital LLC acquired a new stake in shares of DTE Energy during the 2nd quarter valued at $207,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of DTE Energy during the 2nd quarter valued at $220,000. 71.13% of the stock is currently owned by hedge funds and other institutional investors.
DTE has been the topic of several recent research reports. Wells Fargo & Co raised their price objective on DTE Energy from $103.00 to $113.00 and gave the company a “market perform” rating in a report on Tuesday, August 14th. Credit Suisse Group downgraded 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 report on Thursday, October 25th. Wolfe Research downgraded DTE Energy from an “outperform” rating to a “hold” rating in a report on Friday, October 26th. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, Bank of America raised their price objective on DTE Energy from $101.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s 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 stock has a market cap of $21.13 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 3.07 and a beta of 0.04. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $118.50. 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 (NYSE:DTE) last announced its earnings results on Wednesday, October 24th. The utilities provider reported $2.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.39. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.29 billion. DTE Energy had a return on equity of 11.61% and a net margin of 8.85%. During the same period in the previous year, the business earned $1.48 EPS. On average, equities research analysts forecast that DTE Energy Co will post 6.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be issued a dividend of $0.945 per share. This is an increase from DTE Energy’s previous quarterly dividend of $0.88. This represents a $3.78 annualized dividend and a yield of 3.20%. DTE Energy’s payout ratio is presently 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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