Korea Investment CORP increased its position in shares of DTE Energy Company (NYSE:DTE) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,066 shares of the utilities provider’s stock after buying an additional 2,877 shares during the period. Korea Investment CORP’s holdings in DTE Energy were worth $9,211,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in DTE. Hexavest Inc. raised its stake in shares of DTE Energy by 3.1% in the first quarter. Hexavest Inc. now owns 313,191 shares of the utilities provider’s stock worth $31,980,000 after buying an additional 9,304 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of DTE Energy by 279.8% in the first quarter. State of Alaska Department of Revenue now owns 10,991 shares of the utilities provider’s stock worth $1,121,000 after buying an additional 8,097 shares during the last quarter. Huntington National Bank raised its stake in shares of DTE Energy by 3.5% in the first quarter. Huntington National Bank now owns 14,454 shares of the utilities provider’s stock worth $1,476,000 after buying an additional 491 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of DTE Energy during the first quarter worth $283,000. Finally, Nisa Investment Advisors LLC raised its stake in DTE Energy by 13.0% in the first quarter. Nisa Investment Advisors LLC now owns 46,920 shares of the utilities provider’s stock valued at $4,791,000 after buying an additional 5,395 shares in the last quarter. Institutional investors own 67.99% of the company’s stock.
DTE Energy Company (NYSE DTE) traded up 0.66% during mid-day trading on Friday, reaching $110.63. 1,398,946 shares of the company’s stock traded hands. The stock has a market capitalization of $19.85 billion, a PE ratio of 19.05 and a beta of 0.21. The stock’s 50 day moving average is $107.18 and its 200-day moving average is $104.69. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $111.35.
DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue was up 26.2% compared to the same quarter last year. On average, equities analysts anticipate that DTE Energy Company will post $5.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio is 56.60%.
Several equities research analysts have recently commented on the stock. BMO Capital Markets restated 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 lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $117.00 price target (up previously from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. BidaskClub lowered shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Barclays PLC restated an “overweight” rating and issued a $115.00 price target (up previously from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $108.00.
In other news, insider Larry E. Steward sold 9,999 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the transaction, the insider now owns 39,698 shares of the company’s stock, valued at approximately $4,268,328.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gerard M. Anderson sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the completion of the sale, the chairman now directly owns 80,000 shares in the company, valued at approximately $8,546,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,263 shares of company stock worth $3,489,815. 0.53% of the stock is currently owned by insiders.
DTE Energy Company Profile
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