Gabelli Funds LLC grew its holdings in shares of DTE Energy Co (NYSE:DTE) by 7.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,900 shares of the utilities provider’s stock after buying an additional 1,500 shares during the quarter. Gabelli Funds LLC’s holdings in DTE Energy were worth $2,912,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in DTE. IFM Investors Pty Ltd boosted its holdings in shares of DTE Energy by 55.7% in the third quarter. IFM Investors Pty Ltd now owns 19,788 shares of the utilities provider’s stock valued at $2,631,000 after purchasing an additional 7,078 shares during the period. Sigma Planning Corp boosted its holdings in shares of DTE Energy by 5.3% in the third quarter. Sigma Planning Corp now owns 39,280 shares of the utilities provider’s stock valued at $5,223,000 after purchasing an additional 1,972 shares during the period. Inscription Capital LLC purchased a new stake in shares of DTE Energy in the third quarter valued at approximately $402,000. Cozad Asset Management Inc. boosted its holdings in shares of DTE Energy by 1.9% in the third quarter. Cozad Asset Management Inc. now owns 15,979 shares of the utilities provider’s stock valued at $2,125,000 after purchasing an additional 300 shares during the period. Finally, Mizuho Securities USA LLC purchased a new stake in shares of DTE Energy in the third quarter valued at approximately $1,339,000. 68.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on DTE shares. Credit Suisse Group reiterated a “neutral” rating on shares of DTE Energy in a report on Friday. ValuEngine lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. DZ Bank restated a “buy” rating on shares of DTE Energy in a report on Friday. Mizuho set a $134.00 target price on DTE Energy and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Bank of America restated a “buy” rating on shares of DTE Energy in a report on Saturday, November 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $130.17.
DTE Energy stock traded down $1.29 during mid-day trading on Friday, reaching $120.49. 1,403,227 shares of the company were exchanged, compared to its average volume of 1,025,313. The business has a fifty day moving average of $129.24 and a 200 day moving average of $128.54. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.56 and a current ratio of 0.77. The firm has a market cap of $22.97 billion, a P/E ratio of 19.13, a PEG ratio of 3.32 and a beta of 0.18. DTE Energy Co has a 12-month low of $107.22 and a 12-month high of $134.37.
DTE Energy (NYSE:DTE) last posted its earnings results on Monday, October 28th. The utilities provider reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.09). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.65 billion. DTE Energy had a return on equity of 9.93% and a net margin of 8.24%. During the same quarter in the prior year, the company earned $2.13 EPS. Sell-side analysts predict that DTE Energy Co will post 6.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $1.013 per share. The ex-dividend date is Friday, December 13th. This is an increase from DTE Energy’s previous quarterly dividend of $0.95. This represents a $4.05 dividend on an annualized basis and a dividend yield of 3.36%. DTE Energy’s dividend payout ratio is presently 60.00%.
In other news, Chairman Gerard M. Anderson sold 11,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the transaction, the chairman now directly owns 80,406 shares of the company’s stock, valued at $10,293,576.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Mark W. Stiers sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $131.00, for a total value of $1,310,000.00. Following the transaction, the chief operating officer now directly owns 17,111 shares in the company, valued at $2,241,541. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.
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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