DTE Energy (NYSE:DTE) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of DTE Energy (NYSE:DTE) by 110.1% in the third quarter, HoldingsChannel reports. The firm owned 70,600 shares of the utilities provider’s stock after acquiring an additional 37,000 shares during the quarter. Forsta AP Fonden’s holdings in DTE Energy were worth $7,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bank of Montreal Can increased its position in shares of DTE Energy by 20.8% in the second quarter. Bank of Montreal Can now owns 236,595 shares of the utilities provider’s stock valued at $30,946,000 after buying an additional 40,802 shares in the last quarter. NFJ Investment Group LLC increased its position in shares of DTE Energy by 14.9% in the second quarter. NFJ Investment Group LLC now owns 278,300 shares of the utilities provider’s stock valued at $36,068,000 after buying an additional 36,129 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of DTE Energy by 26.7% in the second quarter. Neuberger Berman Group LLC now owns 145,990 shares of the utilities provider’s stock valued at $18,528,000 after buying an additional 30,758 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of DTE Energy by 5.1% in the third quarter. Commonwealth Equity Services LLC now owns 75,164 shares of the utilities provider’s stock valued at $8,396,000 after buying an additional 3,676 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of DTE Energy by 7.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 28,831 shares of the utilities provider’s stock worth $3,736,000 after purchasing an additional 1,954 shares in the last quarter. 72.22% of the stock is owned by institutional investors.

In related news, SVP Joann Chavez sold 500 shares of the stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $110.78, for a total transaction of $55,390.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Shares of DTE Energy stock opened at $119.38 on Friday. DTE Energy has a 52 week low of $96.40 and a 52 week high of $122.14. The business’s fifty day simple moving average is $115.49 and its 200-day simple moving average is $116.25. The firm has a market cap of $23.13 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.37 and a beta of 0.68. The company has a quick ratio of 0.75, a current ratio of 1.02 and a debt-to-equity ratio of 1.97.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Tuesday, October 26th. The utilities provider reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.11). DTE Energy had a net margin of 6.25% and a return on equity of 12.12%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company earned $2.61 EPS. As a group, equities analysts expect that DTE Energy will post 5.9 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 15th. Stockholders of record on Monday, December 20th will be paid a $0.885 dividend. This represents a $3.54 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, December 17th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio is 78.32%.

Several analysts recently commented on the company. Morgan Stanley upgraded DTE Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $127.00 to $133.00 in a research report on Thursday, January 6th. Edward Jones upgraded DTE Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company upgraded DTE Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $124.00 to $123.00 in a research report on Wednesday, December 1st. Mizuho dropped their price target on DTE Energy from $126.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, November 22nd. Finally, Evercore ISI upgraded DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 price target for the company in a research report on Friday, September 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, DTE Energy has a consensus rating of “Buy” and a consensus price target of $128.30.

About DTE Energy

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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