DTE Energy Company (DTE) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its stake in shares of DTE Energy Company (NYSE:DTE) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 158,563 shares of the company’s stock after buying an additional 812 shares during the period. Great West Life Assurance Co. Can’s holdings in DTE Energy Company were worth $14,839,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tredje AP fonden acquired a new position in DTE Energy Company during the second quarter valued at approximately $171,000. Klingenstein Fields & Co. LLC purchased a new position in DTE Energy Company during the second quarter worth about $203,000. Community Financial Services Group LLC purchased a new position in DTE Energy Company during the second quarter worth about $207,000. Cullen Frost Bankers Inc. purchased a new position in DTE Energy Company during the third quarter worth about $207,000. Finally, BOKF NA purchased a new position in DTE Energy Company during the second quarter worth about $211,000. 66.30% of the stock is owned by institutional investors and hedge funds.
Shares of DTE Energy Company (NYSE:DTE) opened at 98.37 on Friday. The stock has a 50 day moving average of $97.27 and a 200-day moving average of $95.36. The firm has a market capitalization of $17.65 billion, a price-to-earnings ratio of 21.65 and a beta of 0.18. DTE Energy Company has a 52 week low of $78.72 and a 52 week high of $100.45.
DTE Energy Company (NYSE:DTE) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.54. DTE Energy Company had a net margin of 7.98% and a return on equity of 11.04%. The company earned $2.93 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Analysts expect that DTE Energy Company will post $5.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Monday, December 19th will be given a dividend of $0.825 per share. The ex-dividend date is Thursday, December 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from DTE Energy Company’s previous quarterly dividend of $0.77. DTE Energy Company’s dividend payout ratio (DPR) is 72.69%.
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A number of research analysts have issued reports on DTE shares. Jefferies Group started coverage on shares of DTE Energy Company in a research note on Monday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Macquarie boosted their target price on shares of DTE Energy Company from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, September 27th. Bank of America Corporation raised shares of DTE Energy Company from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, November 22nd. Finally, Zacks Investment Research raised shares of DTE Energy Company from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Wednesday, September 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $102.57.
In related news, Chairman Gerard M. Anderson sold 15,000 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were 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 owns 90,000 shares in the company, valued at approximately $8,436,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa A. Muschong sold 520 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $95.95, for a total transaction of $49,894.00. Following the sale, the vice president now owns 2,466 shares of the company’s stock, valued at approximately $236,612.70. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.
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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