DTE Energy Company (DTE) Shares Bought by Profund Advisors LLC
Profund Advisors LLC lifted its stake in DTE Energy Company (NYSE:DTE) by 31.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,828 shares of the utilities provider’s stock after purchasing an additional 4,525 shares during the quarter. Profund Advisors LLC’s holdings in DTE Energy were worth $1,992,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in DTE. UBS Asset Management Americas Inc. raised its position in shares of DTE Energy by 1.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 602,604 shares of the utilities provider’s stock valued at $61,532,000 after purchasing an additional 9,340 shares during the last quarter. Sei Investments Co. raised its position in shares of DTE Energy by 44.6% in the 1st quarter. Sei Investments Co. now owns 52,083 shares of the utilities provider’s stock valued at $5,318,000 after purchasing an additional 16,076 shares during the last quarter. Toronto Dominion Bank raised its position in shares of DTE Energy by 56.5% in the 1st quarter. Toronto Dominion Bank now owns 48,419 shares of the utilities provider’s stock valued at $4,943,000 after purchasing an additional 17,478 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $674,000. Finally, Schnieders Capital Management LLC purchased a new position in shares of DTE Energy in the 1st quarter valued at approximately $207,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Gerard M. Anderson sold 12,000 shares of the 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 sale, the chairman now owns 80,000 shares of the company’s stock, valued at $8,546,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark W. Stiers sold 3,632 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the sale, the insider now directly owns 25,257 shares in the company, valued at approximately $2,779,027.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,631 shares of company stock worth $2,756,681. Corporate insiders own 0.53% of the company’s stock.
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Several brokerages recently weighed in on DTE. BidaskClub downgraded shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets reiterated a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a report on Friday, July 28th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. KeyCorp reiterated a “buy” rating and issued a $113.00 price target on shares of DTE Energy in a report on Sunday, August 27th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $109.20.
DTE Energy Company (NYSE DTE) traded down 0.12% on Monday, hitting $111.32. The stock had a trading volume of 22,529 shares. DTE Energy Company has a one year low of $89.66 and a one year high of $113.71. The stock’s 50 day moving average is $110.40 and its 200 day moving average is $106.47. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 19.17 and a beta of 0.22.
DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. Analysts anticipate that DTE Energy Company will post $5.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, September 15th. DTE Energy’s payout ratio is currently 56.60%.
DTE Energy Profile
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