Oppenheimer & Co. Inc. raised its position in shares of DTE Energy (NYSE:DTE – Get Rating) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,698 shares of the utilities provider’s stock after purchasing an additional 156 shares during the period. Oppenheimer & Co. Inc.’s holdings in DTE Energy were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of DTE. CI Investments Inc. raised its position in DTE Energy by 966.7% during the 3rd quarter. CI Investments Inc. now owns 256 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at $29,000. Godsey & Gibb Inc. purchased a new position in shares of DTE Energy in the 4th quarter valued at $47,000. Mach 1 Financial Group LLC purchased a new position in shares of DTE Energy in the 3rd quarter valued at $56,000. Finally, General Partner Inc. purchased a new position in shares of DTE Energy in the 4th quarter valued at $57,000. 74.55% of the stock is owned by institutional investors.
Insider Buying and Selling
In other DTE Energy news, SVP Joann Chavez sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $113.09, for a total transaction of $452,360.00. Following the completion of the sale, the senior vice president now directly owns 14,607 shares in the company, valued at approximately $1,651,905.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.
DTE Energy Stock Performance
DTE Energy (NYSE:DTE – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.05). The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $4.79 billion. DTE Energy had a net margin of 6.15% and a return on equity of 10.59%. During the same period last year, the firm earned $2.31 EPS. As a group, research analysts predict that DTE Energy will post 6.18 EPS for the current year.
DTE Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Monday, June 19th will be issued a $0.9525 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $3.81 dividend on an annualized basis and a yield of 3.36%. DTE Energy’s payout ratio is 67.43%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. StockNews.com assumed coverage on DTE Energy in a report on Thursday, March 16th. They issued a “hold” rating on the stock. BMO Capital Markets lifted their price target on DTE Energy from $123.00 to $124.00 and gave the company a “market perform” rating in a report on Monday, April 10th. Morgan Stanley lifted their price target on DTE Energy from $120.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Guggenheim cut their price target on DTE Energy from $131.00 to $127.00 in a report on Monday, April 24th. Finally, Wells Fargo & Company dropped their target price on DTE Energy from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.67.
DTE Energy Profile
DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.
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