DTE Energy Co. (DTE) Shares Sold by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. reduced its position in DTE Energy Co. (NYSE:DTE) by 33.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,070,675 shares of the company’s stock after selling 540,350 shares during the period. DTE Energy comprises approximately 1.4% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 13th largest position. Duff & Phelps Investment Management Co. owned approximately 0.60% of DTE Energy worth $100,290,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. NEXT Financial Group Inc increased its stake in DTE Energy by 1,352.3% in the second quarter. NEXT Financial Group Inc now owns 1,278 shares of the company’s stock worth $126,000 after buying an additional 1,190 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock worth $147,000 after buying an additional 37 shares in the last quarter. Gradient Investments LLC increased its stake in DTE Energy by 13.8% in the second quarter. Gradient Investments LLC now owns 1,695 shares of the company’s stock worth $168,000 after buying an additional 205 shares in the last quarter. Tredje AP fonden purchased a new stake in DTE Energy during the second quarter worth approximately $171,000. Finally, Global X Management Co. LLC increased its stake in DTE Energy by 138.3% in the second quarter. Global X Management Co. LLC now owns 1,835 shares of the company’s stock worth $182,000 after buying an additional 1,065 shares in the last quarter. Institutional investors own 66.38% of the company’s stock.
Shares of DTE Energy Co. (NYSE:DTE) opened at 95.80 on Tuesday. DTE Energy Co. has a one year low of $77.35 and a one year high of $100.45. The stock has a 50 day moving average price of $93.06 and a 200 day moving average price of $94.13. The stock has a market capitalization of $17.19 billion, a P/E ratio of 21.08 and a beta of 0.19.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, October 26th. The company reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.54. DTE Energy had a return on equity of 11.04% and a net margin of 7.98%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts forecast that DTE Energy Co. will post $5.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 3.44%. This is a boost from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s payout ratio is presently 67.84%.
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A number of equities research analysts recently commented on the company. Jefferies Group set a $103.00 target price on DTE Energy and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Wednesday, September 28th. KeyCorp set a $105.00 price objective on DTE Energy and gave the company a “buy” rating in a research report on Monday, September 12th. Bank of America Corp. upgraded DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, November 22nd. Finally, Macquarie upped their price objective on DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, September 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $102.57.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of DTE Energy stock in a transaction dated 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 sale, the chairman now directly owns 90,000 shares in the company, valued at approximately $8,436,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.93% of the stock is owned by corporate 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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