BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stake in DTE Energy Company (DTE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in DTE Energy Company (NYSE:DTE) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,958 shares of the utilities provider’s stock after selling 4,534 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in DTE Energy were worth $6,872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in DTE Energy by 2,370.1% in the first quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock valued at $1,478,058,000 after buying an additional 13,889,160 shares during the last quarter. AQR Capital Management LLC raised its stake in DTE Energy by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock valued at $334,567,000 after buying an additional 461,310 shares during the last quarter. Legal & General Group Plc raised its stake in DTE Energy by 42.0% in the first quarter. Legal & General Group Plc now owns 1,403,863 shares of the utilities provider’s stock valued at $143,345,000 after buying an additional 415,123 shares during the last quarter. Janus Capital Management LLC raised its stake in DTE Energy by 44.8% in the first quarter. Janus Capital Management LLC now owns 1,165,374 shares of the utilities provider’s stock valued at $118,997,000 after buying an additional 360,714 shares during the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in DTE Energy during the first quarter valued at about $35,680,000. Institutional investors own 67.99% of the company’s stock.

DTE Energy Company (NYSE DTE) opened at 110.63 on Friday. The stock’s 50 day moving average is $107.18 and its 200 day moving average is $104.69. DTE Energy Company has a 52 week low of $89.66 and a 52 week high of $111.35. The company has a market capitalization of $19.85 billion, a P/E ratio of 19.05 and a beta of 0.21.

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

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

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DTE has been the subject of several analyst reports. Barclays PLC restated an “overweight” rating and set a $115.00 price target (up from $106.00) on shares of DTE Energy in a research report on Sunday, April 23rd. BidaskClub lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $117.00 price target (up from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Zacks Investment Research lowered shares of DTE Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and set a $111.00 price target on shares of DTE Energy in a research report on Friday, July 28th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $108.00.

In other DTE Energy news, Chairman Gerard M. Anderson sold 12,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the completion of the sale, the chairman now directly owns 80,000 shares of the company’s stock, valued at approximately $8,546,400. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Bruce D. Peterson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $110.08, for a total transaction of $550,400.00. Following the completion of the sale, the senior vice president now directly owns 29,156 shares of the company’s stock, valued at $3,209,492.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,263 shares of company stock valued at $3,489,815. 0.53% of the stock is owned by corporate insiders.

DTE Energy Company Profile

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