DTE Energy Co. (DTE) Shares Sold by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. cut its stake in DTE Energy Co. (NYSE:DTE) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,611,025 shares of the company’s stock after selling 850 shares during the period. DTE Energy comprises approximately 2.4% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 3rd largest position. Duff & Phelps Investment Management Co. owned approximately 0.90% of DTE Energy worth $159,684,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in DTE. Bank of Montreal Can purchased a new position in DTE Energy during the second quarter worth about $30,302,000. Legal & General Group Plc raised its position in DTE Energy by 0.7% in the first quarter. Legal & General Group Plc now owns 923,490 shares of the company’s stock worth $83,723,000 after buying an additional 6,794 shares during the period. Geode Capital Management LLC raised its position in DTE Energy by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,472,427 shares of the company’s stock worth $133,224,000 after buying an additional 28,200 shares during the period. Adams Diversified Equity Fund Inc. purchased a new position in DTE Energy during the second quarter worth about $12,033,000. Finally, AXA raised its position in DTE Energy by 26.9% in the first quarter. AXA now owns 166,500 shares of the company’s stock worth $15,095,000 after buying an additional 35,300 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.
DTE Energy Co. (NYSE:DTE) traded up 0.49% on Tuesday, hitting $92.84. 1,239,579 shares of the stock were exchanged. DTE Energy Co. has a 52 week low of $77.35 and a 52 week high of $100.45. The company’s 50-day moving average is $93.25 and its 200-day moving average is $93.21. The company has a market cap of $16.66 billion, a PE ratio of 22.42 and a beta of 0.25.
DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. DTE Energy had a return on equity of 10.00% and a net margin of 7.51%. DTE Energy’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. On average, analysts predict that DTE Energy Co. will post $5.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 15th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, December 13th. DTE Energy’s payout ratio is currently 74.58%.
A number of research analysts have issued reports on DTE shares. Macquarie upped their target price on shares of DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, September 27th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 25th. KeyCorp set a $105.00 target price on shares of DTE Energy and gave the company a “buy” rating in a report on Monday, September 12th. Barclays PLC restated a “buy” rating and issued a $108.00 target price on shares of DTE Energy in a report on Thursday, July 28th. Finally, BMO Capital Markets restated a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $103.20.
In related news, Chairman Gerard M. Anderson sold 17,500 shares of DTE Energy stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the transaction, the chairman now directly owns 77,500 shares of the company’s stock, valued at $7,591,900. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.
About DTE Energy
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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