DTE Energy Company (DTE) Position Reduced by LSV Asset Management
LSV Asset Management lowered its position in shares of DTE Energy Company (NYSE:DTE) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,200 shares of the utilities provider’s stock after selling 4,500 shares during the period. LSV Asset Management owned 0.05% of DTE Energy worth $9,542,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in DTE Energy by 1.2% during the first quarter. Vanguard Group Inc. now owns 18,612,462 shares of the utilities provider’s stock valued at $1,900,519,000 after acquiring an additional 220,454 shares in the last quarter. BlackRock Inc. grew its stake in DTE Energy by 2,370.1% during the first quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock valued at $1,478,058,000 after acquiring an additional 13,889,160 shares in the last quarter. State Street Corp grew its stake in DTE Energy by 1.4% during the first quarter. State Street Corp now owns 9,375,298 shares of the utilities provider’s stock valued at $957,313,000 after acquiring an additional 129,352 shares in the last quarter. AQR Capital Management LLC grew its stake in DTE Energy by 16.4% during the first quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock valued at $334,567,000 after acquiring an additional 461,310 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in DTE Energy by 6.3% during the first quarter. Victory Capital Management Inc. now owns 1,911,309 shares of the utilities provider’s stock valued at $195,164,000 after acquiring an additional 113,658 shares in the last quarter. 68.63% of the stock is owned by institutional investors.
In other DTE Energy news, insider Mark W. Stiers sold 3,632 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total transaction of $399,628.96. Following the completion of the sale, the insider now directly owns 25,257 shares of the company’s stock, valued at approximately $2,779,027.71. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larry E. Steward sold 9,999 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the sale, the insider now directly owns 39,698 shares of the company’s stock, valued at $4,268,328.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,631 shares of company stock valued at $2,756,681. Insiders own 0.53% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $111.00 price objective on shares of DTE Energy in a research note on Friday, July 28th. BidaskClub cut shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. Finally, KeyCorp reaffirmed a “buy” rating and set a $113.00 price objective on shares of DTE Energy in a research note on Sunday, August 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. DTE Energy currently has an average rating of “Buy” and an average price target of $109.20.
Shares of DTE Energy Company (DTE) opened at 111.45 on Friday. The firm’s 50-day moving average is $110.40 and its 200 day moving average is $106.47. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $113.71. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 19.19 and a beta of 0.22.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) 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 business 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 EPS. The company’s revenue was up 26.2% on a year-over-year basis. Equities analysts expect that DTE Energy Company will post $5.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is currently 56.60%.
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DTE Energy Company Profile
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