TD Asset Management Inc. Sells 52,171 Shares of DTE Energy Company (DTE)
TD Asset Management Inc. reduced its position in DTE Energy Company (NYSE:DTE) by 18.0% during the second quarter, Holdings Channel reports. The fund owned 237,217 shares of the utilities provider’s stock after selling 52,171 shares during the period. TD Asset Management Inc.’s holdings in DTE Energy were worth $25,095,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sigma Planning Corp increased its position in DTE Energy by 15.9% in the first quarter. Sigma Planning Corp now owns 31,020 shares of the utilities provider’s stock worth $3,167,000 after buying an additional 4,263 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in DTE Energy by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,785 shares of the utilities provider’s stock worth $457,000 after buying an additional 186 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in DTE Energy by 22.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,062 shares of the utilities provider’s stock worth $2,968,000 after buying an additional 5,324 shares during the last quarter. Hexavest Inc. increased its position in DTE Energy by 3.1% in the first quarter. Hexavest Inc. now owns 313,191 shares of the utilities provider’s stock worth $31,980,000 after buying an additional 9,304 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in DTE Energy by 279.8% in the first quarter. State of Alaska Department of Revenue now owns 10,991 shares of the utilities provider’s stock worth $1,121,000 after buying an additional 8,097 shares during the last quarter. Institutional investors own 67.75% of the company’s stock.
Shares of DTE Energy Company (NYSE:DTE) opened at 107.87 on Friday. The company has a 50 day moving average of $106.88 and a 200-day moving average of $104.26. DTE Energy Company has a 12-month low of $89.66 and a 12-month high of $111.35. The firm has a market cap of $19.35 billion, a PE ratio of 18.57 and a beta of 0.21.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts forecast that DTE Energy Company will post $5.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a $0.825 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a dividend yield of 3.06%. DTE Energy’s dividend payout ratio is presently 56.60%.
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A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $117.00 price target (up from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Finally, Barclays PLC restated an “overweight” rating and issued a $115.00 price target (up from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $108.00.
In other news, COO Gerardo Norcia sold 4,838 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total value of $535,711.74. Following the sale, the chief operating officer now owns 115,930 shares in the company, valued at approximately $12,836,928.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce D. Peterson sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $110.08, for a total transaction of $550,400.00. Following the completion of the sale, the senior vice president now owns 29,156 shares in the company, valued at approximately $3,209,492.48. The disclosure for this sale can be found here. Insiders sold a total of 32,263 shares of company stock worth $3,489,815 in the last 90 days. 0.53% of the stock is owned by corporate insiders.
About DTE Energy
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