Forsta AP Fonden Acquires 37,000 Shares of DTE Energy (NYSE:DTE)

Forsta AP Fonden increased its position in DTE Energy (NYSE:DTE) by 110.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,600 shares of the utilities provider’s stock after acquiring an additional 37,000 shares during the quarter. Forsta AP Fonden’s holdings in DTE Energy were worth $7,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Beacon Capital Management Inc. acquired a new position in DTE Energy in the third quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new stake in shares of DTE Energy during the third quarter worth approximately $33,000. Destiny Wealth Partners LLC bought a new stake in DTE Energy in the third quarter valued at approximately $38,000. Samalin Investment Counsel LLC bought a new stake in DTE Energy in the second quarter valued at approximately $45,000. Finally, Strategic Blueprint LLC bought a new stake in DTE Energy in the second quarter valued at approximately $47,000. Institutional investors own 72.22% of the company’s stock.

In other news, SVP Joann Chavez sold 500 shares of the stock in a transaction that occurred on Thursday, December 2nd. The stock was sold at an average price of $110.78, for a total transaction of $55,390.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Shares of DTE Energy stock opened at $119.38 on Friday. The stock’s 50-day simple moving average is $115.49 and its 200 day simple moving average is $116.25. DTE Energy has a 52-week low of $96.40 and a 52-week high of $122.14. The stock has a market capitalization of $23.13 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.37 and a beta of 0.68. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.75 and a current ratio of 1.02.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Tuesday, October 26th. The utilities provider reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.11). The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.35 billion. DTE Energy had a return on equity of 12.12% and a net margin of 6.25%. During the same quarter last year, the company posted $2.61 earnings per share. Equities research analysts forecast that DTE Energy will post 5.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 15th. Shareholders of record on Monday, December 20th will be paid a $0.885 dividend. The ex-dividend date of this dividend is Friday, December 17th. This represents a $3.54 annualized dividend and a yield of 2.97%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. DTE Energy’s dividend payout ratio is currently 78.32%.

Several research firms have recently weighed in on DTE. JPMorgan Chase & Co. cut shares of DTE Energy from an “overweight” rating to a “neutral” rating and set a $126.00 price target for the company. in a report on Friday, January 7th. Evercore ISI raised shares of DTE Energy from an “in-line” rating to an “outperform” rating and set a $127.00 price target on the stock in a research report on Friday, September 17th. Mizuho dropped their price target on shares of DTE Energy from $126.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday, November 22nd. Morgan Stanley raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $127.00 to $133.00 in a research report on Thursday, January 6th. Finally, Wells Fargo & Company raised shares of DTE Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $124.00 to $123.00 in a research report on Wednesday, December 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $128.30.

DTE Energy Profile

DTE Energy Co operates as a diversified energy company, which engages in the provision of electricity and natural gas sales, distribution and storage services. It operates through the following segments: Electric, Gas, Non-Utility Operations, and Corporate & Other. The Electric segment engages in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in south-eastern Michigan.

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

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