Nordea Investment Management AB Has $52.77 Million Position in DTE Energy (NYSE:DTE)

Nordea Investment Management AB lowered its position in DTE Energy (NYSE:DTEGet Rating) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 396,172 shares of the utilities provider’s stock after selling 1,077 shares during the quarter. Nordea Investment Management AB owned approximately 0.20% of DTE Energy worth $52,774,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Barber Financial Group Inc. lifted its stake in DTE Energy by 2.9% in the first quarter. Barber Financial Group Inc. now owns 6,005 shares of the utilities provider’s stock valued at $794,000 after acquiring an additional 167 shares during the last quarter. Adirondack Trust Co. lifted its stake in shares of DTE Energy by 268.3% during the 1st quarter. Adirondack Trust Co. now owns 1,160 shares of the utilities provider’s stock worth $153,000 after buying an additional 845 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of DTE Energy during the 4th quarter worth about $10,560,000. City Holding Co. lifted its stake in shares of DTE Energy by 13.8% during the 4th quarter. City Holding Co. now owns 9,360 shares of the utilities provider’s stock worth $1,138,000 after buying an additional 1,136 shares during the last quarter. Finally, City State Bank acquired a new stake in shares of DTE Energy during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

A number of research firms have recently issued reports on DTE. Morgan Stanley cut their target price on shares of DTE Energy from $143.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. StockNews.com began coverage on shares of DTE Energy in a research note on Thursday, March 31st. They set a “hold” rating for the company. Citigroup raised their target price on shares of DTE Energy from $134.00 to $146.00 in a research note on Tuesday, May 3rd. Argus raised their target price on shares of DTE Energy from $130.00 to $132.00 in a research note on Thursday, March 10th. Finally, UBS Group lowered shares of DTE Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $136.00 to $133.00 in a research report on Friday, March 11th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.91.

DTE stock opened at $117.90 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt-to-equity ratio of 1.76. DTE Energy has a 12 month low of $107.38 and a 12 month high of $140.23. The firm has a market cap of $22.84 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.20 and a beta of 0.63. The company’s 50-day moving average price is $130.04 and its two-hundred day moving average price is $125.00.

DTE Energy (NYSE:DTEGet Rating) last released its earnings results on Thursday, April 28th. The utilities provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.06 by $0.25. DTE Energy had a net margin of 5.59% and a return on equity of 13.58%. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm earned $2.44 EPS. Equities analysts predict that DTE Energy will post 6.04 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Monday, June 20th will be issued a $0.885 dividend. This represents a $3.54 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, June 16th. DTE Energy’s dividend payout ratio is currently 76.13%.

In related news, VP Lisa A. Muschong sold 600 shares of DTE Energy stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. Following the sale, the vice president now directly owns 3,485 shares of the company’s stock, valued at approximately $467,965.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

DTE Energy Company Profile (Get Rating)

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 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

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

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