Paloma Partners Management Co Has $1.01 Million Position in DTE Energy Company (DTE)
Paloma Partners Management Co increased its position in DTE Energy Company (NYSE:DTE) by 95.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,837 shares of the utilities provider’s stock after buying an additional 4,799 shares during the period. Paloma Partners Management Co’s holdings in DTE Energy were worth $1,005,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its position in DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock worth $131,000 after buying an additional 14 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of DTE Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock worth $158,000 after buying an additional 237 shares during the last quarter. Johnson Financial Group Inc. increased its stake in shares of DTE Energy by 226.0% in the first quarter. Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider’s stock worth $158,000 after buying an additional 1,069 shares during the last quarter. Davis R M Inc. purchased a new stake in shares of DTE Energy during the first quarter worth approximately $206,000. Finally, Schnieders Capital Management LLC purchased a new stake in shares of DTE Energy during the first quarter worth approximately $207,000. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of DTE Energy Company (DTE) traded up 1.18% during mid-day trading on Thursday, reaching $108.87. 777,206 shares of the company were exchanged. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 18.67 and a beta of 0.21. The firm’s 50-day moving average is $107.28 and its 200-day moving average is $103.79. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $111.35.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.98 EPS. DTE Energy’s quarterly revenue was up 26.2% compared to the same quarter last year. On average, equities analysts forecast that DTE Energy Company will post $5.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is presently 56.60%.
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A number of equities research analysts have recently issued reports on DTE shares. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Tuesday, April 11th. Deutsche Bank AG lifted their price target on shares of DTE Energy from $100.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. Barclays PLC restated an “overweight” rating and set a $115.00 price objective (up from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $117.00 price objective (up from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Finally, BidaskClub downgraded DTE Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $108.00.
In related news, VP Lisa A. Muschong sold 426 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $109.51, for a total transaction of $46,651.26. Following the transaction, the vice president now directly owns 2,543 shares in the company, valued at approximately $278,483.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Gerardo Norcia sold 4,838 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $110.73, for a total value of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares in the company, valued at $12,836,928.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,264 shares of company stock valued at $2,414,723. 0.53% of the stock is currently owned by corporate insiders.
About DTE Energy
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