Wells Fargo & Company MN Has $12,235,000 Position in DTE Energy Co. (DTE)
Wells Fargo & Company MN reduced its position in shares of DTE Energy Co. (NYSE:DTE) by 46.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,633 shares of the company’s stock after selling 113,706 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of DTE Energy worth $12,235,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of DTE. NEXT Financial Group Inc boosted its position 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 during the last quarter. TCI Wealth Advisors Inc. boosted its position 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 during the last quarter. Gradient Investments LLC boosted its position 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 during the last quarter. Tredje AP fonden bought a new position in shares of DTE Energy during the second quarter valued at approximately $171,000. Finally, Global X Management Co. LLC boosted its position in shares of DTE Energy by 138.3% in the second quarter. Global X Management Co. LLC now owns 1,835 shares of the company’s stock valued at $182,000 after buying an additional 1,065 shares during the last quarter. 66.38% of the stock is owned by institutional investors.
Shares of DTE Energy Co. (NYSE:DTE) traded up 0.07% during trading on Tuesday, reaching $95.87. 336,597 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $93.06 and a 200-day moving average price of $94.13. DTE Energy Co. has a 52-week low of $77.35 and a 52-week high of $100.45. The company has a market capitalization of $17.20 billion, a PE ratio of 21.10 and a beta of 0.19.
DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, October 26th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.42 by $0.54. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.62 billion. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. On average, equities 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. 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 an increase from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s dividend payout ratio (DPR) is 67.84%.
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Several equities analysts have recently commented on DTE shares. Jefferies Group set a $103.00 price target on shares of DTE Energy and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Bank of America Corp. raised shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, November 22nd. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Wednesday, September 28th. KeyCorp set a $105.00 price target on shares of DTE Energy and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Macquarie increased their price target on shares of DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $102.57.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of DTE Energy 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 transaction, the chairman now owns 90,000 shares in the company, valued at approximately $8,436,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently 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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