Crossmark Global Holdings Inc. grew its position in shares of DTE Energy Co (NYSE:DTE) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,906 shares of the utilities provider’s stock after purchasing an additional 920 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in DTE Energy were worth $1,545,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in DTE. Millennium Management LLC raised its position in DTE Energy by 210.7% in the first quarter. Millennium Management LLC now owns 1,548,620 shares of the utilities provider’s stock worth $161,676,000 after acquiring an additional 1,050,142 shares in the last quarter. BlackRock Inc. boosted its stake in shares of DTE Energy by 4.9% during the first quarter. BlackRock Inc. now owns 15,776,320 shares of the utilities provider’s stock valued at $1,647,046,000 after acquiring an additional 740,198 shares during the last quarter. Newport Trust Co acquired a new stake in DTE Energy in the 1st quarter worth about $45,974,000. Royal Bank of Canada lifted its stake in shares of DTE Energy by 50.6% in the 1st quarter. Royal Bank of Canada now owns 1,230,529 shares of the utilities provider’s stock valued at $128,466,000 after purchasing an additional 413,636 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of DTE Energy by 12.3% in the 1st quarter. Boston Partners now owns 1,603,824 shares of the utilities provider’s stock valued at $167,439,000 after purchasing an additional 175,207 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.
In other DTE Energy news, insider Trevor F. Lauer sold 3,800 shares of DTE Energy stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $110.02, for a total value of $418,076.00. Following the sale, the insider now owns 11,989 shares of the company’s stock, valued at approximately $1,319,029.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gerard M. Anderson sold 10,000 shares of DTE Energy stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $110.18, for a total value of $1,101,800.00. Following the completion of the sale, the chairman now directly owns 84,858 shares in the company, valued at approximately $9,349,654.44. The disclosure for this sale can be found here. Insiders sold a total of 16,226 shares of company stock worth $1,773,947 over the last quarter. Corporate insiders own 0.59% of the company’s stock.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 25th. The utilities provider reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.23. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $2.57 billion. DTE Energy had a return on equity of 10.63% and a net margin of 8.58%. During the same period in the prior year, the company earned $1.07 EPS. analysts expect that DTE Energy Co will post 6.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 17th will be given a $0.8825 dividend. The ex-dividend date is Friday, September 14th. This represents a $3.53 dividend on an annualized basis and a yield of 3.18%. DTE Energy’s payout ratio is 63.15%.
Several research firms have issued reports on DTE. Zacks Investment Research upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Wells Fargo & Co boosted their price objective on DTE Energy from $103.00 to $113.00 and gave the company a “market perform” rating in a research report on Tuesday, August 14th. KeyCorp boosted their price objective on DTE Energy from $108.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. ValuEngine raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Scotiabank assumed coverage on DTE Energy in a research report on Tuesday, July 24th. They set a “buy” rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $112.27.
DTE Energy Company Profile
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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