Neuberger Berman Group LLC Increases Position in DTE Energy Co. (DTE)
Neuberger Berman Group LLC increased its position in shares of DTE Energy Co. (NYSE:DTE) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 765,626 shares of the company’s stock after buying an additional 81,008 shares during the period. Neuberger Berman Group LLC owned about 0.43% of DTE Energy worth $71,716,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in DTE. NEXT Financial Group Inc increased its stake in shares of 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. increased its position in shares of DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock valued at $147,000 after buying an additional 37 shares in the last quarter. Gradient Investments LLC increased its position in shares of DTE Energy by 13.8% in the second quarter. Gradient Investments LLC now owns 1,695 shares of the company’s stock valued at $168,000 after buying an additional 205 shares in the last quarter. Tredje AP fonden purchased a new position in shares of DTE Energy during the second quarter valued at $171,000. Finally, Global X Management Co. LLC increased 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 in the last quarter. Institutional investors and hedge funds own 66.38% of the company’s stock.
Shares of DTE Energy Co. (NYSE:DTE) opened at 95.80 on Wednesday. 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. The stock has a market capitalization of $17.19 billion, a PE ratio of 21.08 and a beta of 0.19.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $2.93 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts anticipate 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. Shareholders of record on Monday, December 19th will be issued a $0.825 dividend. This is a boost from DTE Energy’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, December 15th. This represents a $3.30 dividend on an annualized basis and a yield of 3.44%. DTE Energy’s payout ratio is presently 67.84%.
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DTE has been the subject of several recent analyst reports. KeyCorp set a $105.00 target price on shares of DTE Energy and gave the stock a “buy” rating in a report on Monday, September 12th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Macquarie upped their target price on shares of DTE Energy from $105.00 to $107.00 and gave the stock 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 target price 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 target price for the company in a report on Tuesday, November 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $102.57.
In other DTE Energy 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 completion of the transaction, the chairman now owns 90,000 shares of the company’s stock, valued at $8,436,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by company 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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