DTE Energy Company (NYSE:DTE) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of DTE Energy Company (NYSE:DTE) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,319 shares of the utilities provider’s stock after buying an additional 276 shares during the period. CIBC Asset Management Inc’s holdings in DTE Energy were worth $1,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gradient Investments LLC boosted 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 worth $111,000 after buying an additional 3 shares during the last quarter. Whittier Trust Co. boosted 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 worth $131,000 after buying an additional 14 shares during the last quarter. Van ECK Associates Corp boosted 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 worth $158,000 after buying an additional 237 shares during the last quarter. Johnson Financial Group Inc. boosted 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 worth $158,000 after buying an additional 1,069 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of DTE Energy by 2.1% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,633 shares of the utilities provider’s stock worth $173,000 after buying an additional 33 shares during the last quarter. Institutional investors own 67.99% of the company’s stock.

Shares of DTE Energy Company (NYSE:DTE) traded up 0.66% on Friday, reaching $110.63. The company had a trading volume of 1,398,946 shares. DTE Energy Company has a one year low of $89.66 and a one year high of $111.35. The company has a market capitalization of $19.85 billion, a PE ratio of 19.05 and a beta of 0.21. The company’s 50-day moving average is $107.18 and its 200-day moving average is $104.69.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. Equities research analysts predict that DTE Energy Company will post $5.41 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is 56.60%.

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A number of brokerages have recently commented on DTE. BMO Capital Markets reiterated a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a research note on Friday, July 28th. Zacks Investment Research cut DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated 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. BidaskClub cut DTE Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Barclays PLC reiterated 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $108.00.

In related news, COO Gerardo Norcia sold 4,838 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $110.73, for a total value of $535,711.74. Following the completion of the transaction, the chief operating officer now directly owns 115,930 shares of the company’s stock, valued at $12,836,928.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gerard M. Anderson sold 12,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $106.83, for a total transaction of $1,281,960.00. Following the completion of the transaction, the chairman now directly owns 80,000 shares of the company’s stock, valued at $8,546,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,263 shares of company stock valued at $3,489,815. Insiders own 0.53% of the company’s stock.

DTE Energy Company Profile

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

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