Huntington National Bank Sells 3,374 Shares of DTE Energy Co. (DTE)
Huntington National Bank lowered its position in DTE Energy Co. (NYSE:DTE) by 27.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,802 shares of the company’s stock after selling 3,374 shares during the period. Huntington National Bank’s holdings in DTE Energy were worth $873,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. NEXT Financial Group Inc raised 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 worth $126,000 after buying an additional 1,190 shares in the last quarter. Gradient Investments LLC raised 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 worth $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 worth $209,000. Park National Corp OH acquired a new position in shares of DTE Energy during the second quarter worth $212,000. Finally, Capital One National Association acquired a new position in shares of DTE Energy during the second quarter worth $213,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
Shares of DTE Energy Co. (NYSE:DTE) traded up 0.49% during midday trading on Tuesday, reaching $92.84. 1,239,579 shares of the company’s stock traded hands. The firm has a market capitalization of $16.66 billion, a PE ratio of 22.42 and a beta of 0.25. DTE Energy Co. has a one year low of $77.35 and a one year high of $100.45. The stock’s 50-day moving average price is $93.23 and its 200 day moving average price is $93.22.
DTE Energy (NYSE:DTE) last posted its earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The firm earned $2.26 billion during the quarter, compared to the consensus estimate of $2.36 billion. DTE Energy had a return on equity of 10.00% and a net margin of 7.51%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. On average, equities research analysts expect that DTE Energy Co. will post $5.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be given a dividend of $0.77 per share. The ex-dividend date is Tuesday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.32%. DTE Energy’s dividend payout ratio is currently 74.58%.
A number of research firms have recently commented on DTE. BMO Capital Markets restated a “hold” rating on shares of DTE Energy in a research report on Wednesday, June 22nd. KeyCorp restated an “outperform” rating and issued a $102.50 price objective (up from $97.00) on shares of DTE Energy in a research report on Saturday, July 2nd. Zacks Investment Research upgraded 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 Wednesday, September 28th. Barclays PLC restated a “buy” rating and issued a $108.00 price objective on shares of DTE Energy in a research report on Thursday, July 28th. Finally, Macquarie raised their price objective on shares of DTE Energy from $105.00 to $107.00 and gave the company 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 given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price 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 stock was 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 approximately $7,591,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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