Starfire Investment Advisers Inc. Acquires 1,400 Shares of DTE Energy Co (DTE)
Starfire Investment Advisers Inc. raised its holdings in shares of DTE Energy Co (NYSE:DTE) by 9.5% in the 2nd quarter, Holdings Channel reports. The fund owned 16,195 shares of the utilities provider’s stock after purchasing an additional 1,400 shares during the quarter. Starfire Investment Advisers Inc.’s holdings in DTE Energy were worth $1,678,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in DTE. Sei Investments Co. boosted its stake in DTE Energy by 4.7% in the 2nd quarter. Sei Investments Co. now owns 119,513 shares of the utilities provider’s stock worth $12,386,000 after purchasing an additional 5,369 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in DTE Energy during the 2nd quarter worth about $1,969,000. State of Wisconsin Investment Board lifted its position in DTE Energy by 12.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 174,772 shares of the utilities provider’s stock worth $18,112,000 after buying an additional 19,901 shares in the last quarter. Hugh Johnson Advisors LLC lifted its position in DTE Energy by 12.1% during the 2nd quarter. Hugh Johnson Advisors LLC now owns 6,099 shares of the utilities provider’s stock worth $632,000 after buying an additional 658 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its position in DTE Energy by 0.5% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 153,932 shares of the utilities provider’s stock worth $15,952,000 after buying an additional 812 shares in the last quarter. 69.99% of the stock is owned by institutional investors.
Several equities research analysts have commented on DTE shares. Zacks Investment Research raised shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Wells Fargo & Co cut shares of DTE Energy from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $109.27 to $103.00 in a research report on Monday, June 11th. ValuEngine cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, June 5th. KeyCorp boosted their price target on shares of DTE Energy from $107.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 18th. Finally, Scotiabank started coverage on shares of DTE Energy in a research report on Tuesday, July 24th. They set a “buy” rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $111.82.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 25th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.23. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.57 billion. DTE Energy had a net margin of 8.58% and a return on equity of 10.63%. During the same period in the prior year, the firm earned $1.07 EPS. equities analysts forecast that DTE Energy Co will post 6.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be issued a $0.8825 dividend. The ex-dividend date is Friday, September 14th. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.20%. DTE Energy’s payout ratio is 63.15%.
In other news, insider Peter B. Oleksiak sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $99.89, for a total value of $99,890.00. Following the sale, the insider now directly owns 29,555 shares of the company’s stock, valued at approximately $2,952,248.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Trevor F. Lauer sold 3,800 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $110.02, for a total transaction of $418,076.00. Following the completion of the sale, the insider now directly owns 11,989 shares in the company, valued at $1,319,029.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,226 shares of company stock worth $672,147. 0.59% of the stock is owned by insiders.
DTE Energy Company Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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