Teacher Retirement System of Texas cut its stake in shares of DTE Energy Company (NYSE:DTE) by 2.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 412,670 shares of the utilities provider’s stock after selling 11,215 shares during the period. Teacher Retirement System of Texas owned approximately 0.23% of DTE Energy worth $43,656,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in DTE. Gradient Investments LLC raised its position in shares of DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock valued at $111,000 after buying an additional 3 shares during the period. Whittier Trust Co. raised its position in shares of DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock valued at $131,000 after buying an additional 14 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of DTE Energy by 335.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock valued at $142,000 after buying an additional 1,032 shares during the period. Johnson Financial Group Inc. raised its position in shares of DTE Energy by 226.0% in the first quarter. Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider’s stock valued at $158,000 after buying an additional 1,069 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of DTE Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock valued at $158,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 67.75% of the company’s stock.
DTE Energy Company (NYSE:DTE) opened at 109.06 on Friday. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $111.35. The stock’s 50 day moving average price is $106.93 and its 200-day moving average price is $104.19. The firm has a market capitalization of $19.56 billion, a price-to-earnings ratio of 18.78 and a beta of 0.21.
DTE Energy (NYSE:DTE) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue was up 26.2% on a year-over-year basis. Equities analysts anticipate that DTE Energy Company will post $5.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a dividend yield of 3.03%. DTE Energy’s dividend payout ratio is presently 56.60%.
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DTE has been the topic of several recent analyst reports. Barclays PLC reissued an “overweight” rating and issued a $115.00 price target (up from $106.00) on shares of DTE Energy in a research note on Sunday, April 23rd. BidaskClub lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $117.00 price target (up from $108.50) on shares of DTE Energy in a research note on Thursday, April 27th. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a research note on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $108.00.
In other DTE Energy news, VP Lisa A. Muschong sold 426 shares of DTE Energy stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $109.51, for a total transaction of $46,651.26. Following the completion of the transaction, the vice president now owns 2,543 shares in the company, valued at $278,483.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gerardo Norcia sold 4,838 shares of DTE Energy stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total value of $535,711.74. Following the transaction, the chief operating officer now owns 115,930 shares of the company’s stock, valued at approximately $12,836,928.90. The disclosure for this sale can be found here. Insiders have sold 32,263 shares of company stock worth $3,489,815 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.
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