Duff & Phelps Investment Management Co. lowered its stake in shares of DTE Energy Co. (NYSE:DTE) by 33.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,070,675 shares of the company’s stock after selling 540,350 shares during the period. DTE Energy comprises about 1.4% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 13th largest position. Duff & Phelps Investment Management Co.’s holdings in DTE Energy were worth $100,290,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in DTE Energy during the second quarter valued at approximately $30,302,000. Comerica Bank raised its stake in DTE Energy by 0.9% in the second quarter. Comerica Bank now owns 93,036 shares of the company’s stock valued at $8,867,000 after buying an additional 795 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in DTE Energy by 2.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 530,930 shares of the company’s stock valued at $52,626,000 after buying an additional 12,518 shares during the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in DTE Energy during the second quarter valued at approximately $12,033,000. Finally, Capital One National Association purchased a new stake in DTE Energy during the second quarter valued at approximately $213,000. 66.38% of the stock is currently owned by hedge funds and other institutional investors.
DTE Energy Co. (NYSE:DTE) opened at 95.80 on Tuesday. DTE Energy Co. has a 1-year low of $77.35 and a 1-year high of $100.45. The firm has a market cap of $17.19 billion, a P/E ratio of 21.08 and a beta of 0.19. The firm 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 results on Wednesday, October 26th. The company reported $1.96 EPS 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 net margin of 7.98% and a return on equity of 11.04%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 earnings per share. On average, equities research analysts expect that DTE Energy Co. will post $5.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 3.44%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.77. DTE Energy’s dividend payout ratio (DPR) is 67.84%.
Several analysts have recently commented on DTE shares. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Wednesday, September 28th. KeyCorp set a $105.00 price target on shares of DTE Energy and gave the company a “buy” rating in a research report on Monday, September 12th. Macquarie boosted their target price on DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, September 27th. Jefferies Group began coverage on DTE Energy in a research report on Monday, November 14th. They issued a “buy” rating and a $102.00 target price on the stock. Finally, Bank of America Corp. raised DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, November 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. DTE Energy presently has an average rating of “Buy” and an average target price of $102.57.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.93% of the company’s stock.
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.