JNB Advisors LLC raised its holdings in DTE Energy Co (NYSE:DTE) by 8.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,405 shares of the utilities provider’s stock after acquiring an additional 1,532 shares during the period. JNB Advisors LLC’s holdings in DTE Energy were worth $2,086,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fulton Bank N. A. raised its position in shares of DTE Energy by 16.3% during the 2nd quarter. Fulton Bank N. A. now owns 10,108 shares of the utilities provider’s stock valued at $1,087,000 after buying an additional 1,416 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of DTE Energy by 14.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 275,185 shares of the utilities provider’s stock valued at $26,135,000 after acquiring an additional 34,484 shares during the last quarter. Two Sigma Advisers LP lifted its stake in DTE Energy by 47.5% during the first quarter. Two Sigma Advisers LP now owns 696,900 shares of the utilities provider’s stock worth $66,185,000 after purchasing an additional 224,300 shares during the last quarter. Gabelli Funds LLC increased its stake in DTE Energy by 34.6% in the first quarter. Gabelli Funds LLC now owns 35,950 shares of the utilities provider’s stock valued at $3,414,000 after purchasing an additional 9,250 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of DTE Energy by 1.8% in the 1st quarter. State Street Corp now owns 10,338,542 shares of the utilities provider’s stock valued at $992,321,000 after buying an additional 177,932 shares in the last quarter. 72.69% of the stock is currently owned by institutional investors.
DTE Energy stock traded up $0.93 during trading on Friday, hitting $115.63. The company’s stock had a trading volume of 1,032,299 shares, compared to its average volume of 1,143,783. DTE Energy Co has a 1-year low of $71.21 and a 1-year high of $135.67. The stock’s fifty day moving average is $108.59 and its 200 day moving average is $111.00. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.83. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.06 and a beta of 0.59.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $1.013 dividend. The ex-dividend date is Friday, September 18th. This represents a $4.05 annualized dividend and a yield of 3.50%. DTE Energy’s dividend payout ratio is currently 64.29%.
In other news, SVP Joann Chavez sold 400 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $101.93, for a total value of $40,772.00. Following the completion of the sale, the senior vice president now owns 5,300 shares of the company’s stock, valued at $540,229. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.57% of the company’s stock.
Several research firms have recently weighed in on DTE. Credit Suisse Group reduced their target price on DTE Energy from $140.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Seaport Global Securities initiated coverage on shares of DTE Energy in a research note on Wednesday, May 20th. They set a “buy” rating and a $121.00 price target for the company. Morgan Stanley boosted their price target on DTE Energy from $122.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. KeyCorp lowered shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets began coverage on shares of DTE Energy in a report on Thursday, July 9th. They issued an “outperform” rating and a $116.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $125.54.
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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