DTE Energy Co. (DTE) Position Cut by Commerce Bank
Commerce Bank reduced its position in shares of DTE Energy Co. (NYSE:DTE) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,891 shares of the company’s stock after selling 225 shares during the period. Commerce Bank’s holdings in DTE Energy were worth $1,676,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of DTE Energy by 1.5% in the first quarter. Arizona State Retirement System now owns 68,126 shares of the company’s stock worth $6,176,000 after buying an additional 1,000 shares in the last quarter. Logan Capital Management Inc. bought a new position in shares of DTE Energy during the first quarter worth about $209,000. Euclid Advisors LLC raised its position in shares of DTE Energy by 586.8% in the first quarter. Euclid Advisors LLC now owns 42,304 shares of the company’s stock worth $3,835,000 after buying an additional 36,144 shares in the last quarter. BlueMountain Capital Management LLC raised its position in shares of DTE Energy by 120.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,990 shares of the company’s stock worth $634,000 after buying an additional 3,825 shares in the last quarter. Finally, Park National Corp OH bought a new position in shares of DTE Energy during the second quarter worth about $212,000. Hedge funds and other institutional investors own 66.38% of the company’s stock.
DTE Energy Co. (NYSE:DTE) traded up 1.88% during mid-day trading on Monday, reaching $95.80. 1,075,685 shares of the company’s stock were exchanged. DTE Energy Co. has a 52 week low of $77.35 and a 52 week high of $100.45. The stock has a market cap of $17.19 billion, a P/E ratio of 21.08 and a beta of 0.19. The stock has a 50-day moving average price of $93.06 and a 200-day moving average price of $94.13.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, October 26th. The company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.54. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts forecast that DTE Energy Co. will post $5.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Monday, December 19th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 3.44%. This is an increase from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s payout ratio is currently 67.84%.
DTE has been the subject of a number of recent analyst reports. KeyCorp set a $105.00 target price on shares of DTE Energy and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Macquarie upped their price target 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. Jefferies Group initiated coverage on shares of DTE Energy in a report on Monday, November 14th. They issued a “buy” rating and a $102.00 price target for the company. Finally, Bank of America Corp. raised shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a report on Tuesday, November 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. DTE Energy presently has a consensus rating of “Buy” and a consensus price target of $102.57.
In other news, Chairman Gerard M. Anderson sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $93.74, for a total value of $1,406,100.00. Following the sale, the chairman now owns 90,000 shares in the company, valued at approximately $8,436,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is currently owned by insiders.
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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