BRC Investment Management LLC Takes Position in DTE Energy Company (DTE)
BRC Investment Management LLC acquired a new stake in DTE Energy Company (NYSE:DTE) during the third quarter, Holdings Channel reports. The fund acquired 37,965 shares of the company’s stock, valued at approximately $3,556,000.
A number of other institutional investors have also recently made changes to their positions in the company. Tredje AP fonden purchased a new position in shares of DTE Energy Company during the second quarter valued at about $171,000. Klingenstein Fields & Co. LLC bought a new stake in DTE Energy Company during the second quarter worth about $203,000. Capital One National Association boosted its stake in DTE Energy Company by 0.5% in the third quarter. Capital One National Association now owns 2,161 shares of the company’s stock worth $203,000 after buying an additional 11 shares during the last quarter. Community Financial Services Group LLC bought a new stake in DTE Energy Company during the second quarter worth about $207,000. Finally, Cullen Frost Bankers Inc. bought a new stake in DTE Energy Company during the third quarter worth about $207,000. Hedge funds and other institutional investors own 66.30% of the company’s stock.
DTE Energy Company (NYSE:DTE) traded down 0.269% on Friday, reaching $98.105. The company had a trading volume of 249,414 shares. DTE Energy Company has a 12 month low of $78.72 and a 12 month high of $100.45. The company’s 50 day moving average price is $97.27 and its 200-day moving average price is $95.36. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of 21.590 and a beta of 0.18.
DTE Energy Company (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.54. DTE Energy Company had a return on equity of 11.04% and a net margin of 7.98%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that DTE Energy Company will post $5.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Monday, December 19th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 3.35%. This is a boost from DTE Energy Company’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, December 15th. DTE Energy Company’s dividend payout ratio is 72.69%.
A number of research firms have issued reports on DTE. Jefferies Group set a $103.00 target price on DTE Energy Company and gave the company a “buy” rating in a research note on Tuesday, November 22nd. Zacks Investment Research cut DTE Energy Company from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Bank of America upgraded DTE Energy Company from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, November 22nd. Finally, Macquarie raised their target price on DTE Energy Company from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, September 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $102.57.
In other DTE Energy Company news, SVP Bruce D. Peterson sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $95.43, for a total value of $954,300.00. Following the sale, the senior vice president now directly owns 24,207 shares in the company, valued at $2,310,074.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lisa A. Muschong sold 520 shares of the company’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $95.95, for a total value of $49,894.00. Following the completion of the sale, the vice president now owns 2,466 shares in the company, valued at $236,612.70. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.
About DTE Energy Company
DTE Energy Company (DTE Energy) is a diversified energy company. The Company’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). Its segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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