Assetmark Inc. Increases Stake in DTE Energy Company (DTE)
Assetmark Inc. lifted its position in DTE Energy Company (NYSE:DTE) by 5,398.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,811 shares of the utilities provider’s stock after acquiring an additional 111,741 shares during the period. Assetmark Inc. owned 0.06% of DTE Energy worth $12,219,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Vantage Investment Advisors LLC raised its position in shares of DTE Energy by 0.8% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 10 shares in the last quarter. Advisor Partners LLC raised its position in shares of DTE Energy by 0.5% in the 2nd quarter. Advisor Partners LLC now owns 4,011 shares of the utilities provider’s stock worth $424,000 after acquiring an additional 21 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of DTE Energy by 0.6% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 4,738 shares of the utilities provider’s stock worth $501,000 after acquiring an additional 29 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of DTE Energy by 2.1% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,633 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 33 shares in the last quarter. Finally, Probity Advisors Inc. raised its position in shares of DTE Energy by 0.6% in the 2nd quarter. Probity Advisors Inc. now owns 5,761 shares of the utilities provider’s stock worth $609,000 after acquiring an additional 35 shares in the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.
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A number of research analysts recently weighed in on the company. Bank of America Corporation assumed coverage on DTE Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research report on Tuesday, August 29th. KeyCorp reaffirmed a “buy” rating and set a $113.00 price objective on shares of DTE Energy in a research report on Sunday, August 27th. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group reduced their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. DTE Energy currently has a consensus rating of “Hold” and an average price target of $111.50.
In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the sale, the chairman now directly owns 83,000 shares in the company, valued at approximately $9,373,190. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.
Shares of DTE Energy Company (NYSE:DTE) traded up $0.41 on Wednesday, reaching $112.64. The company’s stock had a trading volume of 797,900 shares, compared to its average volume of 873,616. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20. DTE Energy Company has a 1-year low of $92.19 and a 1-year high of $116.21. The stock has a market cap of $20,210.00, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 3.38 and a beta of 0.22.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. equities analysts expect that DTE Energy Company will post 5.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Monday, December 18th will be paid a dividend of $0.8825 per share. This represents a $3.53 annualized dividend and a yield of 3.13%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, December 15th. DTE Energy’s dividend payout ratio (DPR) is currently 60.33%.
DTE Energy Company Profile
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