DTE Energy Co. (DTE) Position Increased by Hennessy Advisors Inc.
Hennessy Advisors Inc. raised its position in shares of DTE Energy Co. (NYSE:DTE) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,254 shares of the company’s stock after buying an additional 28,500 shares during the period. Hennessy Advisors Inc. owned 0.16% of DTE Energy worth $26,907,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Parametrica Management Ltd acquired a new stake in DTE Energy during the third quarter worth approximately $291,000. Gulf International Bank UK Ltd increased its stake in DTE Energy by 1.2% in the third quarter. Gulf International Bank UK Ltd now owns 54,412 shares of the company’s stock worth $5,096,000 after buying an additional 650 shares during the period. Nisa Investment Advisors LLC increased its stake in DTE Energy by 10.3% in the third quarter. Nisa Investment Advisors LLC now owns 37,450 shares of the company’s stock worth $3,508,000 after buying an additional 3,500 shares during the period. Capstone Asset Management Co. increased its stake in DTE Energy by 7.8% in the third quarter. Capstone Asset Management Co. now owns 22,638 shares of the company’s stock worth $2,121,000 after buying an additional 1,640 shares during the period. Finally, Atria Investments LLC increased its stake in DTE Energy by 2.8% in the third quarter. Atria Investments LLC now owns 19,529 shares of the company’s stock worth $1,829,000 after buying an additional 534 shares during the period. 66.38% of the stock is owned by institutional investors.
DTE Energy Co. (NYSE:DTE) traded up 0.17% during mid-day trading on Tuesday, reaching $95.96. The company had a trading volume of 148,613 shares. The firm has a market capitalization of $17.22 billion, a P/E ratio of 21.12 and a beta of 0.19. The stock’s 50-day moving average is $93.06 and its 200 day moving average is $94.13. DTE Energy Co. has a 12 month low of $77.35 and a 12 month high of $100.45.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.54. The business earned $2.93 billion during the quarter, compared to analyst estimates of $2.62 billion. DTE Energy had a return on equity of 11.04% and a net margin of 7.98%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, analysts predict that DTE Energy Co. will post $5.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Monday, December 19th will be issued a $0.825 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $0.77. This represents a $3.30 annualized dividend and a dividend yield of 3.44%. DTE Energy’s dividend payout ratio is 67.84%.
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Several research analysts have recently issued reports on DTE shares. Macquarie lifted their price target on DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 27th. Bank of America Corp. raised DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Tuesday, November 22nd. KeyCorp set a $105.00 price target on DTE Energy and gave the stock a “buy” rating in a research note on Monday, September 12th. Jefferies Group started coverage on DTE Energy in a research note on Monday, November 14th. They set a “buy” rating and a $102.00 price target for the company. Finally, Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $102.57.
In other news, Chairman Gerard M. Anderson sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $93.74, for a total value of $1,406,100.00. Following the completion of the sale, the chairman now owns 90,000 shares in the company, valued at $8,436,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is owned by insiders.
DTE Energy Company Profile
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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