Dimensional Fund Advisors LP boosted its stake in DTE Energy Company (NYSE:DTE) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,393 shares of the utilities provider’s stock after buying an additional 22,638 shares during the period. Dimensional Fund Advisors LP owned 0.23% of DTE Energy worth $41,902,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. increased its position in DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock worth $131,000 after buying an additional 14 shares during the period. Van ECK Associates Corp increased its position in DTE Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock worth $158,000 after buying an additional 237 shares during the period. Davis R M Inc. purchased a new position in DTE Energy during the first quarter worth approximately $206,000. Schnieders Capital Management LLC purchased a new position in DTE Energy during the first quarter worth approximately $207,000. Finally, Fulton Bank N.A. purchased a new position in DTE Energy during the first quarter worth approximately $223,000. 67.99% of the stock is currently owned by institutional investors.
DTE Energy Company (NYSE:DTE) traded up 0.65% during midday trading on Wednesday, hitting $109.88. 666,073 shares of the company traded hands. The stock’s 50-day moving average is $106.87 and its 200-day moving average is $104.51. The firm has a market capitalization of $19.71 billion, a PE ratio of 18.92 and a beta of 0.21. 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 earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. DTE Energy’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. Analysts anticipate that DTE Energy Company will post $5.41 EPS for the current fiscal year.
The firm also recently declared 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 3.00%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s payout ratio is currently 56.60%.
A number of equities analysts have commented on the company. Jefferies Group LLC reissued a “buy” rating and set a $117.00 target price (up previously from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub lowered shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. BMO Capital Markets restated a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a research report on Friday, July 28th. Finally, Barclays PLC restated an “overweight” rating and issued a $115.00 price target (up previously from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $108.00.
In related news, SVP Bruce D. Peterson sold 5,000 shares of DTE Energy stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $110.08, for a total value of $550,400.00. Following the sale, the senior vice president now owns 29,156 shares in the company, valued at $3,209,492.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Gerardo Norcia sold 4,838 shares of DTE Energy 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 sale, the chief operating officer now owns 115,930 shares in the company, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. Insiders have sold 32,263 shares of company stock worth $3,489,815 over the last quarter. Company insiders own 0.53% of the company’s stock.
About DTE Energy
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