Exxonmobil Investment Management Inc. TX lowered its stake in shares of DTE Energy Company (NYSE:DTE) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,442 shares of the utilities provider’s stock after selling 5,404 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in DTE Energy were worth $3,644,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whittier Trust Co. boosted its position in shares of DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock valued at $131,000 after buying an additional 14 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of 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. Johnson Financial Group Inc. raised its stake in shares of DTE Energy by 226.0% in the first quarter. Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider’s stock worth $158,000 after buying an additional 1,069 shares during the period. Davis R M Inc. acquired a new stake in shares of DTE Energy during the first quarter worth approximately $206,000. Finally, Schnieders Capital Management LLC acquired a new stake in shares of DTE Energy during the first quarter worth approximately $207,000. 67.75% of the stock is currently owned by institutional investors.
DTE Energy Company (NYSE DTE) traded up 0.43% during trading on Tuesday, reaching $109.40. The company had a trading volume of 481,478 shares. DTE Energy Company has a one year low of $89.66 and a one year high of $111.35. The firm has a market capitalization of $19.63 billion, a P/E ratio of 18.84 and a beta of 0.21. The firm’s 50-day moving average price is $107.13 and its 200 day moving average price is $103.89.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. Equities analysts forecast that DTE Energy Company will post $5.41 earnings per share 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 $0.825 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.30 annualized dividend and a yield of 3.02%. DTE Energy’s dividend payout ratio is presently 56.60%.
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A number of analysts recently commented on the company. Deutsche Bank AG lifted their price target on DTE Energy from $100.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Jefferies Group LLC reiterated a “buy” rating and set a $117.00 price target (up from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub lowered DTE Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, BMO Capital Markets restated a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a research note on Friday, July 28th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $108.00.
In other DTE Energy news, SVP Bruce D. Peterson sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 29,156 shares of the company’s stock, valued at approximately $3,209,492.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gerard M. Anderson sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $106.83, for a total transaction of $1,281,960.00. Following the completion of the transaction, the chairman now directly owns 80,000 shares of the company’s stock, valued at approximately $8,546,400. The disclosure for this sale can be found here. Insiders sold a total of 32,263 shares of company stock valued at $3,489,815 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
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