Pictet Asset Management Ltd. Has $110.54 Million Stake in DTE Energy Company (NYSE:DTE)
Pictet Asset Management Ltd. lowered its stake in DTE Energy Company (NYSE:DTE) by 6.1% during the second quarter, Holdings Channel reports. The firm owned 1,009,312 shares of the utilities provider’s stock after selling 65,437 shares during the period. Pictet Asset Management Ltd.’s holdings in DTE Energy were worth $110,540,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in DTE Energy by 158.1% in the fourth quarter. Macquarie Group Ltd. now owns 144,801 shares of the utilities provider’s stock valued at $14,264,000 after buying an additional 88,701 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of DTE Energy by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 156,213 shares of the utilities provider’s stock valued at $15,951,000 after buying an additional 4,993 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of DTE Energy during the first quarter valued at approximately $223,000. Gulf International Bank UK Ltd raised its stake in shares of DTE Energy by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 55,312 shares of the utilities provider’s stock valued at $5,647,000 after buying an additional 700 shares in the last quarter. Finally, National Pension Service raised its stake in shares of DTE Energy by 3.1% in the first quarter. National Pension Service now owns 146,086 shares of the utilities provider’s stock valued at $14,794,000 after buying an additional 4,335 shares in the last quarter. Institutional investors and hedge funds own 67.75% of the company’s stock.
Shares of DTE Energy Company (NYSE DTE) opened at 108.94 on Monday. The stock has a 50 day moving average of $107.28 and a 200-day moving average of $103.79. The stock has a market cap of $19.54 billion, a PE ratio of 18.76 and a beta of 0.21. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $111.35.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $0.98 earnings per share. DTE Energy’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts predict that DTE Energy Company will post $5.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, September 15th. DTE Energy’s payout ratio is 56.60%.
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Several analysts have commented on DTE shares. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Tuesday, April 11th. Deutsche Bank AG boosted their price target on shares of DTE Energy from $100.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. Barclays PLC reissued an “overweight” rating and issued a $115.00 price target (up previously from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $117.00 target price (up previously from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Finally, BidaskClub lowered shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $108.00.
In other DTE Energy news, VP Lisa A. Muschong sold 426 shares of DTE Energy stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $109.51, for a total transaction of $46,651.26. Following the completion of the transaction, the vice president now directly owns 2,543 shares of the company’s stock, valued at $278,483.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gerard M. Anderson sold 12,000 shares of DTE Energy stock in a transaction on Friday, July 28th. The stock was sold at an average price of $106.83, for a total transaction of $1,281,960.00. Following the transaction, the chairman now directly owns 80,000 shares of the company’s stock, valued at $8,546,400. The disclosure for this sale can be found here. Insiders have sold 32,263 shares of company stock valued at $3,489,815 over the last ninety days. 0.53% of the stock is owned by insiders.
DTE Energy Company Profile
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