SG Americas Securities LLC Reduces Stake in DTE Energy Co (DTE)

SG Americas Securities LLC lessened its holdings in shares of DTE Energy Co (NYSE:DTE) by 29.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,016 shares of the utilities provider’s stock after selling 4,905 shares during the period. SG Americas Securities LLC’s holdings in DTE Energy were worth $1,311,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Northern Trust Corp raised its position in shares of DTE Energy by 4.2% in the 2nd quarter. Northern Trust Corp now owns 2,205,903 shares of the utilities provider’s stock worth $228,598,000 after purchasing an additional 88,227 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of DTE Energy by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,769,311 shares of the utilities provider’s stock worth $193,085,000 after purchasing an additional 6,399 shares during the last quarter. Legal & General Group Plc raised its position in shares of DTE Energy by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 1,744,677 shares of the utilities provider’s stock worth $180,833,000 after purchasing an additional 139,879 shares during the last quarter. Boston Partners raised its position in shares of DTE Energy by 2.6% in the 2nd quarter. Boston Partners now owns 1,645,851 shares of the utilities provider’s stock worth $170,560,000 after purchasing an additional 42,027 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of DTE Energy by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 848,539 shares of the utilities provider’s stock worth $92,601,000 after purchasing an additional 42,601 shares during the last quarter. Hedge funds and other institutional investors own 73.13% of the company’s stock.

In other DTE Energy news, insider Peter B. Oleksiak sold 1,850 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $118.67, for a total value of $219,539.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gerard M. Anderson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $119.73, for a total value of $1,197,300.00. Following the completion of the transaction, the chairman now directly owns 84,858 shares of the company’s stock, valued at approximately $10,160,048.34. The disclosure for this sale can be found here. In the last three months, insiders sold 16,040 shares of company stock valued at $1,919,640. 0.59% of the stock is owned by insiders.

DTE has been the subject of several recent analyst reports. Wells Fargo & Co lifted their price target on DTE Energy from $103.00 to $113.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 14th. Credit Suisse Group lowered DTE Energy from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $109.00 to $111.00 in a research report on Thursday, October 25th. Wolfe Research lowered DTE Energy from an “outperform” rating to a “hold” rating in a research report on Friday, October 26th. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Bank of America boosted their target price on DTE Energy from $101.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $114.36.

Shares of NYSE:DTE opened at $119.52 on Friday. DTE Energy Co has a fifty-two week low of $94.25 and a fifty-two week high of $121.00. The company has a quick ratio of 1.10, a current ratio of 1.47 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $21.72 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 3.16 and a beta of 0.08.

DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, October 24th. The utilities provider reported $2.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.39. DTE Energy had a return on equity of 11.61% and a net margin of 8.85%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. Sell-side analysts forecast that DTE Energy Co will post 6.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders 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. The ex-dividend date of this dividend is Friday, December 14th. This represents a $3.78 dividend on an annualized basis and a yield of 3.16%. DTE Energy’s payout ratio is 63.15%.

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DTE Energy 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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