Quantitative Systematic Strategies LLC Acquires 1,191 Shares of DTE Energy Co (NYSE:DTE)

Quantitative Systematic Strategies LLC lifted its stake in DTE Energy Co (NYSE:DTE) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,391 shares of the utilities provider’s stock after buying an additional 1,191 shares during the period. DTE Energy comprises 1.0% of Quantitative Systematic Strategies LLC’s portfolio, making the stock its 8th biggest holding. Quantitative Systematic Strategies LLC’s holdings in DTE Energy were worth $5,549,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTE. Janus Henderson Group PLC increased its holdings in shares of DTE Energy by 23.3% in the first quarter. Janus Henderson Group PLC now owns 1,334,039 shares of the utilities provider’s stock valued at $166,410,000 after purchasing an additional 252,418 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of DTE Energy by 17.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,293,401 shares of the utilities provider’s stock worth $161,338,000 after purchasing an additional 194,255 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of DTE Energy by 18.0% during the 1st quarter. California Public Employees Retirement System now owns 1,125,041 shares of the utilities provider’s stock worth $140,338,000 after acquiring an additional 171,768 shares during the period. Geode Capital Management LLC raised its stake in shares of DTE Energy by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock valued at $258,174,000 after acquiring an additional 150,611 shares during the last quarter. Finally, Unigestion Holding SA acquired a new stake in shares of DTE Energy during the second quarter worth $16,198,000. Institutional investors and hedge funds own 70.31% of the company’s stock.

Shares of NYSE:DTE traded down $1.11 during midday trading on Monday, reaching $127.55. The company’s stock had a trading volume of 30,117 shares, compared to its average volume of 808,559. The business has a 50 day moving average of $129.53. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 3.45 and a beta of 0.24. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.29. DTE Energy Co has a 12-month low of $106.41 and a 12-month high of $132.09.

DTE Energy (NYSE:DTE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.10). The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.98 billion. DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. During the same period in the prior year, the company earned $1.36 earnings per share. As a group, analysts predict that DTE Energy Co will post 6.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, September 13th. DTE Energy’s dividend payout ratio (DPR) is presently 60.00%.

Several brokerages have commented on DTE. Zacks Investment Research raised shares of DTE Energy from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research report on Tuesday, April 23rd. KeyCorp began coverage on shares of DTE Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $136.00 price objective on the stock. UBS Group boosted their price objective on shares of DTE Energy from $132.00 to $134.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. ValuEngine raised shares of DTE Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Bank of America reduced their price objective on shares of DTE Energy from $124.00 to $122.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $125.90.

In related news, VP Lisa A. Muschong sold 237 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $128.86, for a total value of $30,539.82. Following the completion of the transaction, the vice president now directly owns 2,100 shares of the company’s stock, valued at $270,606. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark W. Stiers sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $127.84, for a total value of $1,278,400.00. Following the completion of the sale, the insider now owns 6,700 shares of the company’s stock, valued at $856,528. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

DTE Energy 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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Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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