DTE Energy Co (DTE) Shares Sold by Rhumbline Advisers
Rhumbline Advisers lowered its stake in shares of DTE Energy Co (NYSE:DTE) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 363,769 shares of the utilities provider’s stock after selling 5,989 shares during the period. Rhumbline Advisers owned approximately 0.20% of DTE Energy worth $39,698,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. ELM Advisors LLC purchased a new position in DTE Energy in the 3rd quarter valued at approximately $120,000. Valeo Financial Advisors LLC boosted its position in DTE Energy by 89.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the utilities provider’s stock valued at $172,000 after buying an additional 731 shares during the period. Polaris Greystone Financial Group LLC purchased a new position in DTE Energy in the 3rd quarter valued at approximately $193,000. Truvestments Capital LLC purchased a new position in DTE Energy in the 2nd quarter valued at approximately $207,000. Finally, Piedmont Investment Advisors LLC purchased a new position in DTE Energy in the 2nd quarter valued at approximately $220,000. 71.36% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. KeyCorp raised their price target on shares of DTE Energy from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Tuesday, October 9th. Bank of America raised their price target on shares of DTE Energy from $101.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 25th. Barclays started coverage on shares of DTE Energy in a research report on Wednesday, August 15th. They issued an “equal weight” rating and a $116.00 price target for the company. Finally, Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “hold” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. DTE Energy currently has an average rating of “Hold” and a consensus price target of $114.36.
Shares of NYSE:DTE opened at $119.03 on Monday. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $121.00. The company has a current ratio of 1.47, a quick ratio of 1.10 and a debt-to-equity ratio of 1.27. The firm has a market cap of $21.65 billion, a P/E ratio of 21.29, a P/E/G ratio of 3.15 and a beta of 0.04.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, October 24th. The utilities provider reported $2.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.39. DTE Energy had a net margin of 8.85% and a return on equity of 11.61%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business earned $1.48 EPS. Equities analysts expect that DTE Energy Co will post 6.3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be paid a dividend of $0.945 per share. This is a positive change from DTE Energy’s previous quarterly dividend of $0.88. This represents a $3.78 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, December 14th. DTE Energy’s dividend payout ratio (DPR) is currently 63.15%.
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About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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