State of Wisconsin Investment Board cut its holdings in DTE Energy (NYSE:DTE) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,871 shares of the utilities provider’s stock after selling 1,386 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of DTE Energy worth $16,169,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in shares of DTE Energy during the fourth quarter valued at about $138,000. Focused Wealth Management Inc bought a new position in shares of DTE Energy during the fourth quarter valued at about $164,000. Lenox Wealth Advisors Inc. bought a new position in shares of DTE Energy during the fourth quarter valued at about $190,000. Capital One National Association bought a new position in shares of DTE Energy during the fourth quarter valued at about $201,000. Finally, BB&T Securities LLC bought a new position in shares of DTE Energy during the fourth quarter valued at about $202,000. 67.74% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Gerard M. Anderson sold 12,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $102.53, for a total transaction of $1,281,625.00. Following the transaction, the chief executive officer now owns 87,358 shares in the company, valued at $8,956,815.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Ruud sold 7,680 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $100.54, for a total transaction of $772,147.20. The disclosure for this sale can be found here. Insiders have sold 36,521 shares of company stock worth $3,721,873 in the last quarter. 0.59% of the stock is owned by corporate insiders.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Wednesday, April 25th. The utilities provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. DTE Energy had a net margin of 8.34% and a return on equity of 10.27%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the company earned $1.79 earnings per share. equities analysts predict that DTE Energy will post 5.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Investors of record on Monday, June 18th will be given a dividend of $0.8825 per share. This represents a $3.53 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, June 15th. DTE Energy’s dividend payout ratio is currently 63.15%.
DTE has been the subject of several recent analyst reports. Guggenheim reaffirmed a “buy” rating and set a $112.00 price objective on shares of DTE Energy in a research note on Friday, February 23rd. Credit Suisse Group reaffirmed a “neutral” rating and set a $107.00 price objective (up from $106.00) on shares of DTE Energy in a research note on Tuesday, February 20th. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. UBS initiated coverage on shares of DTE Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $108.00 price objective for the company. Finally, Bank of America upped their price objective on shares of DTE Energy from $101.00 to $104.00 and gave the company an “underperform” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. DTE Energy has an average rating of “Hold” and an average price target of $110.00.
About DTE Energy
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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