Gerard M. Anderson Sells 12,389 Shares of DTE Energy Company (DTE) Stock
DTE Energy Company (NYSE:DTE) Chairman Gerard M. Anderson sold 12,389 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the sale, the chairman now directly owns 83,000 shares of the company’s stock, valued at approximately $9,373,190. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
DTE Energy Company (NYSE DTE) opened at $112.62 on Thursday. The stock has a market capitalization of $20,206.52, a P/E ratio of 21.87, a P/E/G ratio of 3.39 and a beta of 0.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.77 and a current ratio of 1.08. DTE Energy Company has a 52 week low of $92.19 and a 52 week high of $116.21.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. research analysts predict that DTE Energy Company will post 5.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Monday, December 18th will be paid a $0.8825 dividend. This represents a $3.53 annualized dividend and a yield of 3.13%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, December 15th. DTE Energy’s dividend payout ratio is presently 60.44%.
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Hedge funds have recently bought and sold shares of the business. Virginia Retirement Systems ET AL boosted its stake in DTE Energy by 171.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the utilities provider’s stock worth $1,894,000 after purchasing an additional 11,300 shares during the period. Swiss National Bank boosted its stake in DTE Energy by 9.9% in the 2nd quarter. Swiss National Bank now owns 698,625 shares of the utilities provider’s stock worth $73,908,000 after purchasing an additional 62,900 shares during the period. GAM Holding AG boosted its stake in DTE Energy by 27.0% in the 2nd quarter. GAM Holding AG now owns 24,877 shares of the utilities provider’s stock worth $2,632,000 after purchasing an additional 5,291 shares during the period. Shell Asset Management Co. boosted its stake in DTE Energy by 1.9% in the 2nd quarter. Shell Asset Management Co. now owns 16,404 shares of the utilities provider’s stock worth $1,735,000 after purchasing an additional 300 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in DTE Energy by 0.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 775,387 shares of the utilities provider’s stock worth $82,028,000 after purchasing an additional 2,997 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.
DTE has been the subject of several research reports. KeyCorp reaffirmed a “buy” rating and set a $113.00 price target on shares of DTE Energy in a research report on Sunday, August 27th. Credit Suisse Group cut their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Bank of America Corporation began coverage on DTE Energy in a research note on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. Finally, Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $111.50.
About DTE Energy
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