Swiss National Bank increased its stake in shares of DTE Energy Company (NYSE:DTE) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,625 shares of the utilities provider’s stock after buying an additional 62,900 shares during the period. Swiss National Bank owned 0.39% of DTE Energy worth $73,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gradient Investments LLC raised its position in DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after buying an additional 3 shares during the period. Regal Investment Advisors LLC raised its position in DTE Energy by 0.3% in the first quarter. Regal Investment Advisors LLC now owns 2,212 shares of the utilities provider’s stock valued at $226,000 after buying an additional 7 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in DTE Energy by 0.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 4,709 shares of the utilities provider’s stock valued at $481,000 after buying an additional 13 shares during the period. Advisor Partners LLC raised its position in DTE Energy by 0.5% in the second quarter. Advisor Partners LLC now owns 4,011 shares of the utilities provider’s stock valued at $424,000 after buying an additional 21 shares during the period. Finally, CENTRAL TRUST Co raised its position in DTE Energy by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,130 shares of the utilities provider’s stock valued at $649,000 after buying an additional 28 shares during the period. 68.55% of the stock is currently owned by institutional investors.

Shares of DTE Energy Company (NYSE:DTE) opened at 112.12 on Friday. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $112.59. The stock’s 50 day moving average price is $108.94 and its 200 day moving average price is $105.66. The firm has a market capitalization of $20.11 billion, a P/E ratio of 19.30 and a beta of 0.22.

DTE Energy (NYSE:DTE) last released its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The business’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, analysts predict that DTE Energy Company will post $5.41 EPS 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 2.94%. The ex-dividend date is Friday, September 15th. DTE Energy’s dividend payout ratio is 56.60%.

TRADEMARK VIOLATION WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & international copyright and trademark law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/03/swiss-national-bank-boosts-position-in-dte-energy-company-dte.html.

Several research analysts have commented on the company. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research 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 research report on Friday, July 28th. KeyCorp reissued a “buy” rating and issued a $113.00 price objective on shares of DTE Energy in a research report on Sunday, August 27th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research report on Tuesday, August 29th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $109.20.

In other DTE Energy news, 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 owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at approximately $278,483.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,895 shares of company stock valued at $3,889,444. Company insiders own 0.53% of the company’s stock.

About DTE Energy

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

Receive News & Stock Ratings for DTE Energy Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy Company and related stocks with our FREE daily email newsletter.