Victory Capital Management Inc. raised its stake in DTE Energy Co (NYSE:DTE) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,796,612 shares of the utilities provider’s stock after purchasing an additional 27,301 shares during the quarter. DTE Energy accounts for 0.5% of Victory Capital Management Inc.’s portfolio, making the stock its 28th biggest position. Victory Capital Management Inc. owned 0.99% of DTE Energy worth $198,166,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in DTE. We Are One Seven LLC bought a new position in shares of DTE Energy during the fourth quarter valued at approximately $27,000. First Mercantile Trust Co. raised its holdings in shares of DTE Energy by 55.0% during the fourth quarter. First Mercantile Trust Co. now owns 310 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 110 shares in the last quarter. Certified Advisory Corp raised its holdings in shares of DTE Energy by 18.0% during the fourth quarter. Certified Advisory Corp now owns 687 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 105 shares in the last quarter. CWM LLC raised its holdings in shares of DTE Energy by 11.9% during the fourth quarter. CWM LLC now owns 1,112 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 118 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of DTE Energy during the fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Shares of NYSE DTE traded up $0.14 during trading on Tuesday, reaching $119.18. The company had a trading volume of 12,699 shares, compared to its average volume of 1,014,725. DTE Energy Co has a 12-month low of $94.25 and a 12-month high of $121.00. The stock has a market cap of $21.54 billion, a P/E ratio of 18.79, a P/E/G ratio of 3.19 and a beta of 0.27. The company has a current ratio of 0.73, a quick ratio of 0.55 and a debt-to-equity ratio of 1.13.
DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 7th. The utilities provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). DTE Energy had a return on equity of 10.85% and a net margin of 7.88%. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company posted $1.26 earnings per share. As a group, analysts forecast that DTE Energy Co will post 6.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be given a dividend of $0.945 per share. The ex-dividend date is Friday, March 15th. This represents a $3.78 annualized dividend and a dividend yield of 3.17%. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.
In related news, Chairman Gerard M. Anderson sold 10,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $119.73, for a total transaction of $1,197,300.00. Following the sale, the chairman now directly owns 84,858 shares of the company’s stock, valued at $10,160,048.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter B. Oleksiak sold 1,850 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $118.67, for a total value of $219,539.50. The disclosure for this sale can be found here. Insiders have sold 16,040 shares of company stock worth $1,919,640 over the last ninety days. 0.59% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on the company. Credit Suisse Group cut DTE Energy from a “neutral” rating to an “underperform” rating and upped their price target for the stock from $109.00 to $111.00 in a research note on Thursday, October 25th. Bank of America upped their price target on DTE Energy from $101.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 25th. Wells Fargo & Co upped their price target on DTE Energy from $118.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, October 25th. Wolfe Research cut DTE Energy from an “outperform” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Citigroup upped their price target on DTE Energy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday, December 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $117.42.
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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