Hoertkorn Richard Charles Has $159,000 Stake in DTE Energy Company (NYSE:DTE)
Hoertkorn Richard Charles held its stake in shares of DTE Energy Company (NYSE:DTE) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,500 shares of the utilities provider’s stock at the end of the second quarter. Hoertkorn Richard Charles’ holdings in DTE Energy were worth $159,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. raised its position in shares of 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 during the period. Van ECK Associates Corp raised its position 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 period. Johnson Financial Group Inc. raised its position 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 period. Davis R M Inc. acquired a new position in shares of DTE Energy during the first quarter worth about $206,000. Finally, Schnieders Capital Management LLC acquired a new position in shares of DTE Energy during the first quarter worth about $207,000. Institutional investors and hedge funds own 67.75% of the company’s stock.
DTE Energy Company (NYSE:DTE) opened at 108.93 on Tuesday. The firm’s 50-day moving average price is $107.28 and its 200-day moving average price is $103.79. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $111.35. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 18.76 and a beta of 0.21.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company posted $0.98 EPS. DTE Energy’s revenue was up 26.2% on a year-over-year basis. On average, equities analysts expect that DTE Energy Company will post $5.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued 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 is Friday, September 15th. DTE Energy’s dividend payout ratio is presently 56.60%.
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A number of brokerages recently issued reports on DTE. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BMO Capital Markets reissued a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. BidaskClub lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $117.00 price objective (up from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Finally, Barclays PLC reissued an “overweight” rating and issued a $115.00 price objective (up from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. DTE Energy presently has an average rating of “Hold” and an average target price of $108.00.
In other news, insider Larry E. Steward sold 9,999 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $107.52, for a total value of $1,075,092.48. Following the completion of the transaction, the insider now owns 39,698 shares of the company’s stock, valued at approximately $4,268,328.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gerardo Norcia sold 4,838 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total transaction of $535,711.74. Following the completion of the transaction, the chief operating officer now directly owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. Insiders have sold a total of 32,263 shares of company stock valued at $3,489,815 in the last ninety days. Company insiders own 0.53% of the company’s stock.
DTE Energy Company Profile
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