Legal & General Group Plc Increases Stake in DTE Energy Company (DTE)
Legal & General Group Plc increased its stake in DTE Energy Company (NYSE:DTE) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,225 shares of the utilities provider’s stock after buying an additional 77,362 shares during the period. Legal & General Group Plc owned 0.83% of DTE Energy worth $156,706,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in DTE Energy by 2,164.0% in the second quarter. SG Americas Securities LLC now owns 67,602 shares of the utilities provider’s stock valued at $7,152,000 after buying an additional 64,616 shares in the last quarter. State of Wisconsin Investment Board raised its stake in DTE Energy by 33.4% in the second quarter. State of Wisconsin Investment Board now owns 146,352 shares of the utilities provider’s stock valued at $15,483,000 after buying an additional 36,670 shares in the last quarter. LMR Partners LLP bought a new stake in DTE Energy during the second quarter valued at $1,221,000. Dupont Capital Management Corp raised its stake in DTE Energy by 6.7% in the second quarter. Dupont Capital Management Corp now owns 10,948 shares of the utilities provider’s stock valued at $1,158,000 after buying an additional 684 shares in the last quarter. Finally, Savant Capital LLC raised its stake in DTE Energy by 4.8% in the second quarter. Savant Capital LLC now owns 2,190 shares of the utilities provider’s stock valued at $232,000 after buying an additional 100 shares in the last quarter. 67.99% of the stock is owned by institutional investors and hedge funds.
Shares of DTE Energy Company (NYSE:DTE) opened at 110.63 on Monday. The firm has a market cap of $19.85 billion, a PE ratio of 19.05 and a beta of 0.21. The stock has a 50 day moving average price of $107.18 and a 200 day moving average price of $104.69. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $111.35.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm’s revenue was up 26.2% on a year-over-year basis. On average, equities research analysts expect that DTE Energy Company will post $5.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is 56.60%.
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Several research firms have recently weighed in on DTE. Zacks Investment Research lowered 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. BidaskClub lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $108.00.
In other news, Chairman Gerard M. Anderson sold 12,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the completion of the transaction, the chairman now owns 80,000 shares of the company’s stock, valued at approximately $8,546,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bruce D. Peterson sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $110.08, for a total transaction of $550,400.00. Following the completion of the transaction, the senior vice president now directly owns 29,156 shares of the company’s stock, valued at $3,209,492.48. The disclosure for this sale can be found here. Insiders sold a total of 32,263 shares of company stock valued at $3,489,815 in the last three months. 0.53% of the stock is owned by company insiders.
DTE Energy Company Profile
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