Commerce Bank lowered its stake in DTE Energy Co. (NYSE:DTE) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,891 shares of the company’s stock after selling 225 shares during the period. Commerce Bank’s holdings in DTE Energy were worth $1,676,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of DTE Energy by 430.9% in the third quarter. Toronto Dominion Bank now owns 5,240 shares of the company’s stock valued at $491,000 after buying an additional 4,253 shares in the last quarter. Appleton Partners Inc. MA purchased a new stake in shares of DTE Energy during the third quarter valued at $281,000. KBC Group NV boosted its stake in shares of DTE Energy by 78.6% in the third quarter. KBC Group NV now owns 146,703 shares of the company’s stock valued at $13,742,000 after buying an additional 64,556 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of DTE Energy by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 1,351,688 shares of the company’s stock valued at $126,614,000 after buying an additional 5,114 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of DTE Energy by 43.7% in the third quarter. Victory Capital Management Inc. now owns 1,142,227 shares of the company’s stock valued at $106,993,000 after buying an additional 347,461 shares in the last quarter. 66.38% of the stock is owned by hedge funds and other institutional investors.
Shares of DTE Energy Co. (NYSE:DTE) traded up 1.88% during trading on Monday, hitting $95.80. The company had a trading volume of 1,075,685 shares. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 21.08 and a beta of 0.19. DTE Energy Co. has a 12-month low of $77.35 and a 12-month high of $100.45. The stock has a 50-day moving average of $93.06 and a 200 day moving average of $94.13.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.54. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.62 billion. DTE Energy had a return on equity of 11.04% and a net margin of 7.98%. DTE Energy’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. On average, analysts predict that DTE Energy Co. will post $5.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be paid a $0.825 dividend. This is a positive change from DTE Energy’s previous quarterly dividend of $0.77. This represents a $3.30 annualized dividend and a yield of 3.44%. DTE Energy’s dividend payout ratio (DPR) is 67.84%.
Several analysts have weighed in on the company. Jefferies Group set a $103.00 price objective on DTE Energy and gave the stock a “buy” rating in a report on Tuesday, November 22nd. Bank of America Corp. raised DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Tuesday, November 22nd. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Wednesday, September 28th. Macquarie upped their price target on DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, September 27th. Finally, KeyCorp set a $105.00 price target on DTE Energy and gave the company a “buy” rating in a research note on Monday, September 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $102.57.
In other news, Chairman Gerard M. Anderson sold 15,000 shares of DTE Energy stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $93.74, for a total transaction of $1,406,100.00. Following the sale, the chairman now directly owns 90,000 shares of the company’s stock, valued at $8,436,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is owned by corporate insiders.
DTE Energy Company Profile
DTE Energy Company (DTE Energy) is a diversified energy company. DTE Energy’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). The Company’s segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.