Oregon Public Employees Retirement Fund raised its position in shares of DTE Energy Co. (NYSE:DTE) by 11.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,626 shares of the company’s stock after buying an additional 4,074 shares during the period. Oregon Public Employees Retirement Fund’s holdings in DTE Energy were worth $3,805,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of DTE. NEXT Financial Group Inc increased its stake in shares of DTE Energy by 1,352.3% in the second quarter. NEXT Financial Group Inc now owns 1,278 shares of the company’s stock worth $126,000 after buying an additional 1,190 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in DTE Energy by 2.6% in the second quarter. TCI Wealth Advisors Inc. now owns 1,486 shares of the company’s stock worth $147,000 after buying an additional 37 shares during the period. Gradient Investments LLC boosted its position in DTE Energy by 13.8% in the second quarter. Gradient Investments LLC now owns 1,695 shares of the company’s stock worth $168,000 after buying an additional 205 shares during the period. Tredje AP fonden purchased a new position in DTE Energy during the second quarter worth $171,000. Finally, Global X Management Co. LLC boosted its position in DTE Energy by 138.3% in the second quarter. Global X Management Co. LLC now owns 1,835 shares of the company’s stock worth $182,000 after buying an additional 1,065 shares during the period. 66.02% of the stock is owned by hedge funds and other institutional investors.
DTE Energy Co. (NYSE:DTE) traded up 1.48% during mid-day trading on Friday, hitting $94.03. 434,756 shares of the stock were exchanged. The stock has a market cap of $16.87 billion, a PE ratio of 20.69 and a beta of 0.19. The stock’s 50 day moving average is $92.95 and its 200 day moving average is $94.05. DTE Energy Co. has a 52-week low of $77.35 and a 52-week high of $100.45.
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, topping the Zacks’ consensus estimate of $1.42 by $0.54. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.62 billion. DTE Energy had a net margin of 7.98% and a return on equity of 11.04%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. Analysts forecast 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. Stockholders of record on Monday, December 19th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s dividend payout ratio is presently 67.84%.
A number of research analysts recently weighed in on DTE shares. KeyCorp set a $105.00 target price on shares of DTE Energy and gave the company a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Macquarie lifted their target price on shares of DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, September 27th. Jefferies Group started coverage on shares of DTE Energy in a research note on Monday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. Finally, Bank of America Corp. upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, November 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $102.57.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $93.74, for a total transaction of $1,406,100.00. Following the sale, the chairman now owns 90,000 shares in the company, valued at $8,436,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.93% of the stock is currently owned by insiders.
About DTE Energy
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.