DTE Energy Co. (DTE) Position Increased by Hennessy Advisors Inc.
Hennessy Advisors Inc. increased its stake in shares of DTE Energy Co. (NYSE:DTE) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,254 shares of the company’s stock after buying an additional 28,500 shares during the period. Hennessy Advisors Inc.’s holdings in DTE Energy were worth $26,907,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in DTE. Parametrica Management Ltd bought a new stake in shares of DTE Energy during the third quarter valued at approximately $291,000. Gulf International Bank UK Ltd increased its stake in shares of DTE Energy by 1.2% in the third quarter. Gulf International Bank UK Ltd now owns 54,412 shares of the company’s stock valued at $5,096,000 after buying an additional 650 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of DTE Energy by 10.3% in the third quarter. Nisa Investment Advisors LLC now owns 37,450 shares of the company’s stock valued at $3,508,000 after buying an additional 3,500 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of DTE Energy by 7.8% in the third quarter. Capstone Asset Management Co. now owns 22,638 shares of the company’s stock valued at $2,121,000 after buying an additional 1,640 shares in the last quarter. Finally, Atria Investments LLC increased its stake in shares of DTE Energy by 2.8% in the third quarter. Atria Investments LLC now owns 19,529 shares of the company’s stock valued at $1,829,000 after buying an additional 534 shares in the last quarter. 66.38% of the stock is owned by institutional investors and hedge funds.
Shares of DTE Energy Co. (NYSE:DTE) traded up 0.17% on Tuesday, hitting $95.96. The stock had a trading volume of 148,613 shares. The stock has a market capitalization of $17.22 billion, a PE ratio of 21.12 and a beta of 0.19. DTE Energy Co. has a one year low of $77.35 and a one year high of $100.45. The firm’s 50 day moving average is $93.06 and its 200-day moving average is $94.13.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.54. DTE Energy had a return on equity of 11.04% and a net margin of 7.98%. The business earned $2.93 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts expect that DTE Energy Co. will post $5.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be paid a dividend of $0.825 per share. This is a boost from DTE Energy’s previous quarterly dividend of $0.77. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.44%. DTE Energy’s payout ratio is 67.84%.
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Several equities research analysts recently issued reports on DTE shares. 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. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. 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. Jefferies Group started coverage on DTE Energy in a research note on Monday, November 14th. They issued a “buy” rating and a $102.00 price objective for the company. Finally, Bank of America Corp. raised DTE Energy from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, November 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. DTE Energy presently has an average rating of “Buy” and a consensus target price of $102.57.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of DTE Energy stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $93.74, for a total transaction of $1,406,100.00. Following the completion of the sale, the chairman now directly owns 90,000 shares of the company’s stock, valued at $8,436,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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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