Reynders McVeigh Capital Management LLC cut its holdings in shares of DTE Energy (NYSE:DTE) by 90.1% in the 1st quarter, Holdings Channel reports. The firm owned 808 shares of the utilities provider’s stock after selling 7,393 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in DTE Energy were worth $774,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in DTE Energy by 792.3% during the fourth quarter. Millennium Management LLC now owns 498,478 shares of the utilities provider’s stock valued at $54,563,000 after purchasing an additional 442,612 shares during the last quarter. Koch Industries Inc. acquired a new stake in DTE Energy during the fourth quarter valued at approximately $358,000. American International Group Inc. lifted its stake in DTE Energy by 14.8% during the fourth quarter. American International Group Inc. now owns 61,416 shares of the utilities provider’s stock valued at $6,723,000 after purchasing an additional 7,931 shares during the last quarter. Raymond James & Associates lifted its stake in DTE Energy by 95.9% during the fourth quarter. Raymond James & Associates now owns 119,075 shares of the utilities provider’s stock valued at $13,034,000 after purchasing an additional 58,286 shares during the last quarter. Finally, Boston Partners acquired a new stake in DTE Energy during the fourth quarter valued at approximately $156,376,000. 68.34% of the stock is owned by institutional investors and hedge funds.
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In other DTE Energy news, insider David Ruud sold 7,680 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $100.54, for a total value of $772,147.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lisa A. Muschong sold 1,341 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $100.97, for a total transaction of $135,400.77. Following the completion of the sale, the vice president now owns 2,676 shares of the company’s stock, valued at approximately $270,195.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,521 shares of company stock valued at $2,189,173. Insiders own 0.59% of the company’s stock.
Shares of NYSE:DTE opened at $104.68 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.16 and a quick ratio of 0.93. The company has a market capitalization of $18,997.64, a P/E ratio of 18.30, a PEG ratio of 3.01 and a beta of 0.14. DTE Energy has a 52 week low of $97.66 and a 52 week high of $116.74.
DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, April 25th. The utilities provider reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.02. DTE Energy had a net margin of 8.34% and a return on equity of 10.27%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $1.79 EPS. research analysts expect that DTE Energy will post 5.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, July 15th. Shareholders of record on Monday, June 18th will be given a $0.8825 dividend. The ex-dividend date is Friday, June 15th. This represents a $3.53 dividend on an annualized basis and a yield of 3.37%. DTE Energy’s payout ratio is 63.15%.
Several brokerages recently commented on DTE. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Monday, January 15th. Guggenheim restated a “buy” rating and issued a $112.00 price target on shares of DTE Energy in a research report on Friday, February 23rd. UBS began coverage on shares of DTE Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price target for the company. KeyCorp upped their price target on shares of DTE Energy from $107.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, April 18th. Finally, Citigroup began coverage on shares of DTE Energy in a research report on Friday, April 13th. They issued a “neutral” rating and a $103.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $110.00.
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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