Pinnacle Associates Ltd. cut its holdings in shares of DTE Energy Co (NYSE:DTE) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,739 shares of the utilities provider’s stock after selling 150 shares during the quarter. Pinnacle Associates Ltd.’s holdings in DTE Energy were worth $734,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of DTE Energy by 23.3% during 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 during the period. Wells Fargo & Company MN increased its position in shares of DTE Energy by 17.7% during the first quarter. Wells Fargo & Company MN now owns 1,293,401 shares of the utilities provider’s stock valued at $161,338,000 after purchasing an additional 194,255 shares during the period. First Trust Advisors LP increased its position in shares of DTE Energy by 37.4% during the second quarter. First Trust Advisors LP now owns 664,769 shares of the utilities provider’s stock valued at $85,011,000 after purchasing an additional 180,912 shares during the period. California Public Employees Retirement System grew its position in DTE Energy by 18.0% in the first quarter. California Public Employees Retirement System now owns 1,125,041 shares of the utilities provider’s stock valued at $140,338,000 after acquiring an additional 171,768 shares during the period. Finally, Geode Capital Management LLC grew its position in DTE Energy by 6.9% in 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 period. Institutional investors own 71.05% of the company’s stock.
NYSE:DTE opened at $128.39 on Friday. DTE Energy Co has a 1-year low of $106.41 and a 1-year high of $132.09. The business’s 50-day moving average price is $129.31 and its two-hundred day moving average price is $125.97. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 3.50 and a beta of 0.24.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, September 13th. DTE Energy’s dividend payout ratio is currently 60.00%.
A number of brokerages have weighed in on DTE. ValuEngine cut DTE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Barclays reiterated a “hold” rating and issued a $131.00 price target on shares of DTE Energy in a research report on Thursday, June 20th. Mizuho began coverage on DTE Energy in a research report on Monday, August 12th. They issued a “neutral” rating and a $131.00 price target on the stock. KeyCorp began coverage on DTE Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $136.00 price target on the stock. Finally, Bank of America lowered their price target on 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. DTE Energy currently has an average rating of “Hold” and a consensus target price of $126.36.
In other news, Chairman Gerard M. Anderson sold 11,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total transaction of $1,472,230.00. Following the sale, the chairman now owns 80,406 shares of the company’s stock, valued at $10,293,576.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.
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.
Further Reading: Operating Income
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