Raymond James & Associates Buys 58,286 Shares of DTE Energy (NYSE:DTE)
Raymond James & Associates increased its holdings in shares of DTE Energy (NYSE:DTE) by 95.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,075 shares of the utilities provider’s stock after acquiring an additional 58,286 shares during the quarter. Raymond James & Associates owned about 0.07% of DTE Energy worth $13,034,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. Koch Industries Inc. bought a new stake in shares of DTE Energy during the 4th quarter valued at $358,000. Parametric Portfolio Associates LLC raised its position in DTE Energy by 3.2% in the third quarter. Parametric Portfolio Associates LLC now owns 494,752 shares of the utilities provider’s stock valued at $53,117,000 after purchasing an additional 15,317 shares during the last quarter. JPMorgan Chase & Co. raised its position in DTE Energy by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 737,342 shares of the utilities provider’s stock valued at $79,382,000 after purchasing an additional 16,125 shares during the last quarter. FDO Partners LLC bought a new position in DTE Energy in the third quarter valued at about $1,771,000. Finally, American International Group Inc. raised its position in DTE Energy by 14.8% in 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. 68.43% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Lisa A. Muschong sold 1,341 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 2,676 shares in the company, valued at $270,195.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gerard M. Anderson sold 12,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $102.53, for a total value of $1,281,625.00. Following the transaction, the chief executive officer now owns 87,358 shares of the company’s stock, valued at $8,956,815.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,521 shares of company stock valued at $2,189,173. 0.59% of the stock is owned by company insiders.
DTE Energy (NYSE:DTE) last released its earnings results on Friday, February 16th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.07. DTE Energy had a return on equity of 10.81% and a net margin of 8.99%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business posted $0.81 earnings per share. analysts predict that DTE Energy will post 5.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Monday, March 19th will be given a $0.8825 dividend. This represents a $3.53 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s dividend payout ratio (DPR) is presently 63.15%.
Several equities research analysts have recently weighed in on the company. KeyCorp reissued a “buy” rating and issued a $118.50 price target on shares of DTE Energy in a research note on Friday, December 15th. Guggenheim reissued a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a research note on Wednesday, January 3rd. Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. UBS started coverage on DTE Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $108.00 target price for the company. Finally, Wells Fargo raised DTE Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $110.40.
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.