Prudential PLC increased its holdings in shares of DTE Energy Co (NYSE:DTE) by 11.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,900 shares of the utilities provider’s stock after acquiring an additional 900 shares during the period. Prudential PLC’s holdings in DTE Energy were worth $982,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. We Are One Seven LLC purchased a new position in DTE Energy during the 4th quarter worth $27,000. 1 North Wealth Services LLC purchased a new position in DTE Energy during the 4th quarter worth $33,000. First Mercantile Trust Co. increased its holdings in DTE Energy by 55.0% during the 4th quarter. First Mercantile Trust Co. now owns 310 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 110 shares during the period. Lindbrook Capital LLC purchased a new position in DTE Energy during the 4th quarter worth $43,000. Finally, Resources Investment Advisors Inc. increased its holdings in DTE Energy by 64.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 494 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 194 shares during the period. 70.95% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Trevor F. Lauer sold 1,700 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $122.44, for a total transaction of $208,148.00. Following the transaction, the insider now directly owns 19,427 shares in the company, valued at approximately $2,378,641.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Gerard M. Anderson sold 11,000 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $119.39, for a total value of $1,313,290.00. Following the transaction, the chairman now owns 79,906 shares in the company, valued at $9,539,977.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,316 shares of company stock worth $1,834,835. 0.59% of the stock is owned by company insiders.
DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 7th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). DTE Energy had a net margin of 7.88% and a return on equity of 10.85%. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. On average, equities research analysts forecast that DTE Energy Co will post 6.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 18th will be paid a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $3.78 annualized dividend and a yield of 3.05%. DTE Energy’s dividend payout ratio (DPR) is 60.00%.
Several research analysts have commented on the company. Zacks Investment Research downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Credit Suisse Group raised their price objective on DTE Energy from $110.00 to $113.00 and gave the stock an “underperform” rating in a report on Monday, February 11th. Citigroup raised their price objective on DTE Energy from $110.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, December 10th. ValuEngine upgraded DTE Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Macquarie set a $123.00 price objective on DTE Energy and gave the stock a “buy” rating in a report on Saturday, February 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $117.42.
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DTE Energy Profile
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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