Strs Ohio Purchases 3,920 Shares of DTE Energy Co. (DTE)
Strs Ohio boosted its position in DTE Energy Co. (NYSE:DTE) by 23.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,726 shares of the company’s stock after buying an additional 3,920 shares during the period. Strs Ohio’s holdings in DTE Energy were worth $2,054,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in DTE Energy during the second quarter worth $30,302,000. Legal & General Group Plc increased its position in DTE Energy by 0.7% in the first quarter. Legal & General Group Plc now owns 923,490 shares of the company’s stock worth $83,723,000 after buying an additional 6,794 shares during the period. Geode Capital Management LLC increased its position in DTE Energy by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,472,427 shares of the company’s stock worth $133,224,000 after buying an additional 28,200 shares during the period. Adams Diversified Equity Fund Inc. purchased a new position in DTE Energy during the second quarter worth $12,033,000. Finally, AXA increased its position in DTE Energy by 26.9% in the first quarter. AXA now owns 166,500 shares of the company’s stock worth $15,095,000 after buying an additional 35,300 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of DTE Energy Co. (NYSE:DTE) traded down 0.44% during mid-day trading on Friday, hitting $91.81. The company had a trading volume of 2,191,820 shares. The firm 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 52 week low of $77.35 and a 52 week high of $100.45. The firm has a market capitalization of $16.47 billion, a PE ratio of 22.17 and a beta of 0.25.
DTE Energy (NYSE:DTE) last posted its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. DTE Energy had a return on equity of 10.00% and a net margin of 7.51%. DTE Energy’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. Equities analysts forecast that DTE Energy Co. will post $5.15 earnings per share for the current year.
Several analysts have recently commented on DTE shares. Zacks Investment Research raised DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Wednesday, September 28th. KeyCorp set a $105.00 price objective on DTE Energy and gave the stock a “buy” rating in a research note on Monday, September 12th. BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a research note on Wednesday, June 22nd. Macquarie increased their price objective on DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 27th. Finally, Barclays PLC reissued a “buy” rating and issued a $108.00 price objective on shares of DTE Energy in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $103.20.
In other DTE Energy news, Chairman Gerard M. Anderson sold 17,500 shares of DTE Energy stock in a transaction that occurred on Monday, August 1st. The stock was 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 approximately $7,591,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate 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.
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