Alliancebernstein L.P. Decreases Holdings in DTE Energy Company (DTE)
Alliancebernstein L.P. lowered its position in DTE Energy Company (NYSE:DTE) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 301,948 shares of the utilities provider’s stock after selling 4,319 shares during the period. Alliancebernstein L.P. owned 0.17% of DTE Energy worth $31,943,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in DTE. BlackRock Inc. lifted its holdings in DTE Energy by 2,370.1% in the 1st quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock valued at $1,478,058,000 after purchasing an additional 13,889,160 shares in the last quarter. AQR Capital Management LLC lifted its holdings in DTE Energy by 16.4% in the 1st quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock valued at $334,567,000 after purchasing an additional 461,310 shares in the last quarter. Legal & General Group Plc lifted its holdings in DTE Energy by 42.0% in the 1st quarter. Legal & General Group Plc now owns 1,403,863 shares of the utilities provider’s stock valued at $143,345,000 after purchasing an additional 415,123 shares in the last quarter. Janus Capital Management LLC lifted its holdings in DTE Energy by 44.8% in the 1st quarter. Janus Capital Management LLC now owns 1,165,374 shares of the utilities provider’s stock valued at $118,997,000 after purchasing an additional 360,714 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in DTE Energy in the 1st quarter valued at $35,680,000. Institutional investors own 68.58% of the company’s stock.
DTE Energy Company (DTE) opened at 110.53 on Tuesday. The firm has a market capitalization of $19.83 billion, a P/E ratio of 19.03 and a beta of 0.22. DTE Energy Company has a 52-week low of $89.66 and a 52-week high of $113.71. The firm has a 50-day moving average price of $110.50 and a 200 day moving average price of $106.61.
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 Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Analysts forecast that DTE Energy Company will post $5.42 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date is Friday, September 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.99%. DTE Energy’s dividend payout ratio (DPR) is 56.60%.
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In other news, insider Larry E. Steward sold 9,999 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.52, for a total value of $1,075,092.48. Following the transaction, the insider now directly owns 39,698 shares in the company, valued at approximately $4,268,328.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark W. Stiers sold 3,632 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $110.03, for a total value of $399,628.96. Following the completion of the transaction, the insider now owns 25,257 shares in the company, valued at $2,779,027.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,631 shares of company stock worth $2,756,681. Company insiders own 0.53% of the company’s stock.
Several research firms have recently commented on DTE. Jefferies Group LLC reiterated a “buy” rating and set a $121.00 price target on shares of DTE Energy in a report on Tuesday, August 29th. KeyCorp reiterated a “buy” rating and set a $113.00 price target on shares of DTE Energy in a report on Sunday, August 27th. BidaskClub upgraded DTE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. BMO Capital Markets reiterated a “hold” rating and set a $111.00 price target on shares of DTE Energy in a report on Friday, July 28th. Finally, Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $109.20.
About DTE Energy
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