DTE Energy Co. (DTE) Shares Bought by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD boosted its stake in DTE Energy Co. (NYSE:DTE) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,947 shares of the company’s stock after buying an additional 92 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in DTE Energy were worth $1,382,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. M&T Bank Corp raised its stake in DTE Energy by 6.2% in the first quarter. M&T Bank Corp now owns 10,067 shares of the company’s stock valued at $913,000 after buying an additional 591 shares during the period. Aviva PLC increased its stake in shares of DTE Energy by 1.3% in the first quarter. Aviva PLC now owns 91,607 shares of the company’s stock valued at $8,305,000 after buying an additional 1,191 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of DTE Energy by 260.6% in the first quarter. Canada Pension Plan Investment Board now owns 187,917 shares of the company’s stock valued at $17,037,000 after buying an additional 135,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of DTE Energy during the first quarter valued at about $986,000. Finally, State Street Corp increased its stake in shares of DTE Energy by 7.5% in the first quarter. State Street Corp now owns 9,440,740 shares of the company’s stock valued at $855,889,000 after buying an additional 661,094 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.
DTE Energy Co. (NYSE:DTE) traded up 0.49% on Tuesday, reaching $92.84. 1,239,579 shares of the company were exchanged. The stock has a market capitalization of $16.66 billion, a P/E ratio of 22.42 and a beta of 0.25. DTE Energy Co. has a 12-month low of $77.35 and a 12-month high of $100.45. The company’s 50-day moving average price is $93.24 and its 200-day moving average price is $93.21.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $0.76 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that DTE Energy Co. will post $5.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, December 13th. DTE Energy’s dividend payout ratio is currently 74.58%.
Several equities research analysts have recently issued reports on the stock. BMO Capital Markets reissued a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Monday, June 20th. KeyCorp set a $105.00 price objective on shares of DTE Energy and gave the stock a “buy” rating in a research report on Monday, September 12th. Barclays PLC reissued a “buy” rating and set a $108.00 price objective on shares of DTE Energy in a research report on Thursday, July 28th. Finally, Macquarie increased their price objective on shares of DTE Energy from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company 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 the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $97.96, for a total value 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 available at the SEC website. 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.
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