DTE Energy Co (DTE) Position Boosted by New York State Common Retirement Fund
New York State Common Retirement Fund raised its stake in shares of DTE Energy Co (NYSE:DTE) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 425,070 shares of the utilities provider’s stock after purchasing an additional 10,000 shares during the period. New York State Common Retirement Fund owned 0.24% of DTE Energy worth $45,636,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Virginia Retirement Systems ET AL increased its position in DTE Energy by 171.2% during the second 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 last quarter. Swiss National Bank increased its position in DTE Energy by 9.9% during the second 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 last quarter. GAM Holding AG increased its position in DTE Energy by 27.0% during the second 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 last quarter. Neuberger Berman Group LLC increased its position in DTE Energy by 0.4% during the second 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 last quarter. Finally, Principal Financial Group Inc. increased its position in shares of DTE Energy by 0.9% in the second quarter. Principal Financial Group Inc. now owns 431,982 shares of the utilities provider’s stock worth $45,699,000 after acquiring an additional 3,758 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.
Shares of DTE Energy Co (DTE) traded up $0.65 during mid-day trading on Thursday, hitting $115.00. 1,113,000 shares of the stock traded hands, compared to its average volume of 877,503. The stock has a market capitalization of $20,513.28, a P/E ratio of 22.20, a PEG ratio of 3.44 and a beta of 0.23. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20. DTE Energy Co has a fifty-two week low of $95.17 and a fifty-two week high of $116.74.
DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.05). The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.80 billion. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. DTE Energy’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.96 earnings per share. research analysts forecast that DTE Energy Co will post 5.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Monday, December 18th will be paid a dividend of $0.8825 per share. This represents a $3.53 dividend on an annualized basis and a yield of 3.07%. 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 60.44%.
In other DTE Energy news, Chairman Gerard M. Anderson sold 12,389 shares of the stock in a transaction on 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 transaction, the chairman now directly owns 83,000 shares in the company, valued at approximately $9,373,190. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Credit Suisse Group dropped their price objective on shares of DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. BidaskClub raised shares of DTE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Bank of America assumed coverage on shares of DTE Energy in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 price objective for the company. Jefferies Group reissued a “buy” rating and issued a $121.00 price objective on shares of DTE Energy in a research report on Tuesday, August 29th. Finally, KeyCorp reissued a “buy” rating and issued a $113.00 price objective on shares of DTE Energy in a research report on Sunday, August 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $111.50.
About DTE Energy
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