Retirement Systems of Alabama Increases Position in DTE Energy Company (DTE)
Retirement Systems of Alabama boosted its stake in shares of DTE Energy Company (NYSE:DTE) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,977 shares of the utilities provider’s stock after buying an additional 241 shares during the period. Retirement Systems of Alabama’s holdings in DTE Energy were worth $9,201,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp boosted its stake in DTE Energy by 15.9% in the first quarter. Sigma Planning Corp now owns 31,020 shares of the utilities provider’s stock valued at $3,167,000 after buying an additional 4,263 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of DTE Energy by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,785 shares of the utilities provider’s stock worth $457,000 after buying an additional 186 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of DTE Energy by 22.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,062 shares of the utilities provider’s stock worth $2,968,000 after buying an additional 5,324 shares during the period. Hexavest Inc. boosted its stake in shares of DTE Energy by 3.1% in the first quarter. Hexavest Inc. now owns 313,191 shares of the utilities provider’s stock worth $31,980,000 after buying an additional 9,304 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of DTE Energy by 279.8% in the first quarter. State of Alaska Department of Revenue now owns 10,991 shares of the utilities provider’s stock worth $1,121,000 after buying an additional 8,097 shares during the period. 67.75% of the stock is owned by institutional investors.
DTE Energy Company (NYSE:DTE) opened at 107.87 on Friday. The firm has a market capitalization of $19.35 billion, a PE ratio of 18.57 and a beta of 0.21. DTE Energy Company has a 1-year low of $89.66 and a 1-year high of $111.35. The firm has a 50-day moving average price of $106.88 and a 200-day moving average price of $104.26.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $0.98 EPS. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. Equities analysts expect that DTE Energy Company will post $5.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be issued a $0.825 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.06%. DTE Energy’s dividend payout ratio (DPR) is presently 56.60%.
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A number of brokerages recently commented on DTE. BMO Capital Markets reaffirmed a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a research note on Friday, July 28th. Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $117.00 price objective (up from $108.50) on shares of DTE Energy in a research note on Thursday, April 27th. BidaskClub cut DTE Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $115.00 price objective (up from $106.00) on shares of DTE Energy in a research note on Sunday, April 23rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $108.00.
In related news, VP Lisa A. Muschong sold 426 shares of DTE Energy stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $109.51, for a total value of $46,651.26. Following the sale, the vice president now owns 2,543 shares of the company’s stock, valued at approximately $278,483.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larry E. Steward sold 9,999 shares of DTE Energy stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the completion of the sale, the insider now directly owns 39,698 shares in the company, valued at approximately $4,268,328.96. The disclosure for this sale can be found here. Insiders sold a total of 32,263 shares of company stock worth $3,489,815 in the last ninety days. 0.53% of the stock is currently owned by insiders.
About DTE Energy
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