First Trust Advisors LP cut its holdings in DTE Energy Co (NYSE:DTE) by 47.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 436,248 shares of the utilities provider’s stock after selling 387,856 shares during the quarter. First Trust Advisors LP’s holdings in DTE Energy were worth $47,752,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of DTE. Boston Partners acquired a new position in DTE Energy in the fourth quarter valued at $156,376,000. APG Asset Management N.V. increased its stake in DTE Energy by 190.0% in the third quarter. APG Asset Management N.V. now owns 658,763 shares of the utilities provider’s stock valued at $70,725,000 after purchasing an additional 431,600 shares during the period. Duff & Phelps Investment Management Co. increased its stake in DTE Energy by 25.8% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,290,325 shares of the utilities provider’s stock valued at $141,239,000 after purchasing an additional 265,000 shares during the period. Janus Henderson Group PLC increased its stake in DTE Energy by 10.3% in the third quarter. Janus Henderson Group PLC now owns 1,815,093 shares of the utilities provider’s stock valued at $194,869,000 after purchasing an additional 169,341 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of DTE Energy by 84.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 336,489 shares of the utilities provider’s stock valued at $36,832,000 after acquiring an additional 154,301 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.
Several analysts have recently weighed in on DTE shares. Wells Fargo & Co raised shares of DTE Energy from a “market perform” rating to an “outperform” rating in a report on Friday, January 12th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. KeyCorp reaffirmed a “buy” rating and issued a $118.50 target price on shares of DTE Energy in a report on Friday, December 15th. Bank of America started coverage on shares of DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $121.00 target price on shares of DTE Energy in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. DTE Energy has a consensus rating of “Hold” and an average price target of $113.75.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Friday, February 16th. The utilities provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. During the same quarter in the prior year, the company earned $0.81 EPS. sell-side analysts expect that DTE Energy Co will post 5.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, March 19th will be issued a dividend of $0.8825 per share. This represents a $3.53 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s dividend payout ratio is currently 64.65%.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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