tru Independence LLC acquired a new position in shares of DTE Energy (NYSE:DTE) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 306 shares of the utilities provider’s stock, valued at approximately $37,000.
A number of other institutional investors also recently made changes to their positions in the stock. Boston Partners lifted its position in DTE Energy by 171.6% during the fourth quarter. Boston Partners now owns 1,712,341 shares of the utilities provider’s stock worth $207,895,000 after buying an additional 1,081,883 shares in the last quarter. Bank of New York Mellon Corp lifted its position in DTE Energy by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,486,577 shares of the utilities provider’s stock worth $180,486,000 after buying an additional 120,574 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in DTE Energy by 220.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,129,299 shares of the utilities provider’s stock worth $137,108,000 after acquiring an additional 777,419 shares during the last quarter. Jennison Associates LLC increased its stake in DTE Energy by 75.7% during the fourth quarter. Jennison Associates LLC now owns 868,494 shares of the utilities provider’s stock worth $105,444,000 after acquiring an additional 374,222 shares during the last quarter. Finally, Morgan Stanley increased its stake in DTE Energy by 99.9% during the third quarter. Morgan Stanley now owns 705,945 shares of the utilities provider’s stock worth $81,211,000 after acquiring an additional 352,858 shares during the last quarter. Hedge funds and other institutional investors own 73.56% of the company’s stock.
Several equities research analysts have issued reports on DTE shares. Bank of America reissued a “neutral” rating and set a $119.00 target price (down previously from $133.00) on shares of DTE Energy in a research note on Monday, March 15th. KeyCorp cut their target price on DTE Energy from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, January 12th. Evercore ISI raised DTE Energy from an “in-line” rating to an “outperform” rating in a research note on Thursday, January 21st. Morgan Stanley raised their target price on DTE Energy from $137.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 25th. Finally, Credit Suisse Group dropped their price objective on DTE Energy from $131.00 to $128.00 and set a “neutral” rating for the company in a research note on Tuesday, January 19th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $131.23.
DTE Energy (NYSE:DTE) last released its earnings results on Thursday, February 18th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.15. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.18 billion. DTE Energy had a return on equity of 11.43% and a net margin of 11.30%. During the same period last year, the business posted $1.35 earnings per share. Equities analysts forecast that DTE Energy will post 7.02 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Monday, March 15th will be issued a $1.085 dividend. The ex-dividend date is Friday, March 12th. This represents a $4.34 dividend on an annualized basis and a yield of 3.20%. DTE Energy’s dividend payout ratio (DPR) is presently 68.89%.
In other DTE Energy news, Director David A. Thomas purchased 395 shares of the firm’s stock in a transaction on Wednesday, February 24th. The stock was bought at an average cost of $126.56 per share, with a total value of $49,991.20. Following the acquisition, the director now directly owns 2,068 shares of the company’s stock, valued at $261,726.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark C. Rolling sold 2,389 shares of DTE Energy stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $124.45, for a total value of $297,311.05. Following the sale, the chief accounting officer now directly owns 11,000 shares of the company’s stock, valued at $1,368,950. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
DTE Energy 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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