Retirement Systems of Alabama Has $9,067,000 Stake in DTE Energy Co. (DTE)
Retirement Systems of Alabama raised its stake in DTE Energy Co. (NYSE:DTE) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,480 shares of the company’s stock after buying an additional 481 shares during the period. Retirement Systems of Alabama’s holdings in DTE Energy were worth $9,067,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of DTE. NEXT Financial Group Inc increased its position 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 valued at $126,000 after buying an additional 1,190 shares in the last quarter. Gradient Investments LLC increased its position in shares of DTE Energy by 13.8% in the second quarter. Gradient Investments LLC now owns 1,695 shares of the company’s stock valued at $168,000 after buying an additional 205 shares in the last quarter. Logan Capital Management Inc. acquired a new position in shares of DTE Energy during the first quarter valued at about $209,000. Park National Corp OH acquired a new position in shares of DTE Energy during the second quarter valued at about $212,000. Finally, Capital One National Association acquired a new position in shares of DTE Energy during the second quarter valued at about $213,000. Institutional investors and hedge funds own 65.25% of the company’s stock.
DTE Energy Co. (NYSE:DTE) traded down 0.44% on Friday, hitting $91.81. The company’s stock had a trading volume of 2,191,820 shares. The company has a market capitalization of $16.47 billion, a P/E ratio of 22.17 and a beta of 0.25. The company has a 50 day moving average price of $93.66 and a 200-day moving average price of $93.09. DTE Energy Co. has a 1-year low of $77.35 and a 1-year high of $100.45.
DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities analysts forecast that DTE Energy Co. will post $5.15 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the company. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a report on Wednesday, September 28th. Macquarie boosted their target price on DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, September 27th. KeyCorp set a $105.00 target price on DTE Energy and gave the stock a “buy” rating in a report on Monday, September 12th. Barclays PLC reissued a “buy” rating and set a $108.00 target price on shares of DTE Energy in a report on Thursday, July 28th. Finally, BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $103.20.
In other news, Chairman Gerard M. Anderson sold 17,500 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $97.96, for a total transaction of $1,714,300.00. Following the sale, the chairman now directly owns 77,500 shares of the company’s stock, valued at $7,591,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.93% of the company’s stock.
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.
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