Advisory Services Network LLC Has $321,000 Position in DTE Energy Co. (DTE)
Advisory Services Network LLC increased its position in DTE Energy Co. (NYSE:DTE) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,239 shares of the company’s stock after buying an additional 9 shares during the period. Advisory Services Network LLC’s holdings in DTE Energy were worth $321,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of DTE. NEXT Financial Group Inc raised its position in 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 raised 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 valued at $168,000 after buying an additional 205 shares in the last quarter. Logan Capital Management Inc. acquired a new position in DTE Energy during the first quarter valued at about $209,000. Park National Corp OH acquired a new position in DTE Energy during the second quarter valued at about $212,000. Finally, Capital One National Association acquired a new position in DTE Energy during the second quarter valued at about $213,000. 65.25% of the stock is owned by hedge funds and other institutional investors.
Shares of DTE Energy Co. (NYSE:DTE) traded down 0.44% during trading on Friday, reaching $91.81. The company’s stock had a trading volume of 2,191,820 shares. The firm’s 50-day moving average price is $93.66 and its 200-day moving average price is $93.09. DTE Energy Co. has a one year low of $77.35 and a one year high of $100.45. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 22.17 and a beta of 0.25.
DTE Energy (NYSE:DTE) last released its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. DTE Energy had a net margin of 7.51% and a return on equity of 10.00%. The firm earned $2.26 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business earned $0.76 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts anticipate that DTE Energy Co. will post $5.15 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “hold” rating on shares of DTE Energy in a report on Wednesday, June 22nd. KeyCorp reaffirmed an “outperform” rating and issued a $102.50 target price (up from $97.00) on shares of DTE Energy in a report on Saturday, July 2nd. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Wednesday, September 28th. Barclays PLC reaffirmed a “buy” rating and issued a $108.00 target price on shares of DTE Energy in a report on Thursday, July 28th. Finally, Macquarie upped their target price on DTE Energy from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $103.20.
In other news, Chairman Gerard M. Anderson sold 17,500 shares of DTE Energy 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 completion of the transaction, the chairman now directly owns 77,500 shares in the company, valued at $7,591,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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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