Jennison Associates LLC continued to hold its stake in shares of DTE Energy Company (NYSE:DTE) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,344,914 shares of the utilities provider’s stock at the end of the second quarter. Jennison Associates LLC owned about 0.75% of DTE Energy worth $142,278,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DTE. Cranbrook Wealth Management LLC boosted its stake in shares of DTE Energy by 3.0% in the first quarter. Cranbrook Wealth Management LLC now owns 2,663 shares of the utilities provider’s stock valued at $272,000 after buying an additional 77 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of DTE Energy by 129.0% in the first quarter. Russell Investments Group Ltd. now owns 403,811 shares of the utilities provider’s stock valued at $41,222,000 after buying an additional 227,469 shares in the last quarter. Strs Ohio boosted its stake in shares of DTE Energy by 3.9% in the first quarter. Strs Ohio now owns 20,298 shares of the utilities provider’s stock valued at $2,072,000 after buying an additional 756 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of DTE Energy by 0.4% in the first quarter. Shell Asset Management Co. now owns 16,104 shares of the utilities provider’s stock valued at $1,644,000 after buying an additional 65 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of DTE Energy by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 4,200 shares of the utilities provider’s stock valued at $429,000 after buying an additional 163 shares in the last quarter. 67.99% of the stock is owned by institutional investors.

Shares of DTE Energy Company (NYSE:DTE) opened at 110.63 on Friday. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $111.35. The company’s 50-day moving average is $107.18 and its 200-day moving average is $104.69. The stock has a market capitalization of $19.85 billion, a PE ratio of 19.05 and a beta of 0.21.

DTE Energy (NYSE:DTE) last announced its quarterly 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 company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $0.98 EPS. DTE Energy’s quarterly revenue was up 26.2% on a year-over-year basis. Equities research analysts expect that DTE Energy Company will post $5.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a dividend yield of 2.98%. DTE Energy’s dividend payout ratio (DPR) is 56.60%.

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Several analysts have recently issued reports on the stock. BidaskClub cut shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets reissued a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a research note on Friday, July 28th. Jefferies Group LLC reissued 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. Finally, Barclays PLC reissued 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. DTE Energy presently has a consensus rating of “Hold” and an average target price of $108.00.

In other news, SVP Bruce D. Peterson sold 5,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $110.08, for a total transaction of $550,400.00. Following the transaction, the senior vice president now owns 29,156 shares in the company, valued at approximately $3,209,492.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gerardo Norcia sold 4,838 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $110.73, for a total transaction of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares in the company, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,263 shares of company stock worth $3,489,815. 0.53% of the stock is currently owned by company insiders.

About DTE Energy

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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