Quadrature Capital Ltd Has $232,000 Stake in DTE Energy Co (DTE)
Quadrature Capital Ltd lessened its position in shares of DTE Energy Co (NYSE:DTE) by 67.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,118 shares of the utilities provider’s stock after selling 4,309 shares during the quarter. Quadrature Capital Ltd’s holdings in DTE Energy were worth $232,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. purchased a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $111,000. SeaCrest Wealth Management LLC purchased a new stake in shares of DTE Energy during the 4th quarter valued at approximately $138,000. Lenox Wealth Advisors Inc. purchased a new stake in shares of DTE Energy during the 4th quarter valued at approximately $190,000. ARP Americas LLC purchased a new stake in shares of DTE Energy during the 3rd quarter valued at approximately $201,000. Finally, Capital One National Association purchased a new stake in shares of DTE Energy during the 4th quarter valued at approximately $201,000. 68.46% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on the stock. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Guggenheim reaffirmed a “buy” rating and set a $121.00 price target on shares of DTE Energy in a research report on Wednesday, January 3rd. KeyCorp reaffirmed a “buy” rating and set a $118.50 price target on shares of DTE Energy in a research report on Friday, December 15th. UBS Group started coverage on DTE Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $108.00 target price on the stock. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $107.00 target price (up previously from $106.00) on shares of DTE Energy in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $111.55.
DTE Energy (NYSE:DTE) last announced its earnings results on Friday, February 16th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. During the same period last year, the business earned $0.81 EPS. equities research analysts expect that DTE Energy Co will post 5.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Monday, March 19th will be given a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s payout ratio is 64.65%.
In other DTE Energy news, CEO Gerard M. Anderson sold 12,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $102.53, for a total value of $1,281,625.00. Following the completion of the transaction, the chief executive officer now owns 87,358 shares in the company, valued at $8,956,815.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lisa A. Muschong sold 1,341 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $100.97, for a total transaction of $135,400.77. Following the completion of the transaction, the vice president now owns 2,676 shares of the company’s stock, valued at approximately $270,195.72. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
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DTE Energy Company Profile
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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