Securian Asset Management Inc. lifted its stake in DTE Energy (NYSE:DTE – Get Rating) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,890 shares of the utilities provider’s stock after purchasing an additional 207 shares during the period. Securian Asset Management Inc.’s holdings in DTE Energy were worth $1,868,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DTE. Retirement Income Solutions Inc increased its position in shares of DTE Energy by 6.8% during the first quarter. Retirement Income Solutions Inc now owns 2,498 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 158 shares in the last quarter. Prudential PLC acquired a new stake in shares of DTE Energy in the first quarter valued at about $1,710,000. Cetera Investment Advisers boosted its position in DTE Energy by 4.3% during the first quarter. Cetera Investment Advisers now owns 7,094 shares of the utilities provider’s stock worth $938,000 after purchasing an additional 290 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in DTE Energy in the 1st quarter valued at about $280,000. Finally, Vanguard Group Inc. raised its position in shares of DTE Energy by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after purchasing an additional 1,420,586 shares during the last quarter. 74.55% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on DTE Energy from $123.00 to $124.00 and gave the stock a “market perform” rating in a report on Monday, April 10th. Wells Fargo & Company reduced their price objective on DTE Energy from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 1st. StockNews.com began coverage on DTE Energy in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley upped their price target on DTE Energy from $120.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, TheStreet upgraded shares of DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, January 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and a consensus target price of $129.11.
DTE Energy Stock Up 0.3 %
DTE Energy (NYSE:DTE – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The utilities provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.07 billion. DTE Energy had a return on equity of 12.99% and a net margin of 5.63%. During the same period in the prior year, the business earned $1.05 earnings per share. Equities research analysts forecast that DTE Energy will post 6.18 EPS for the current fiscal year.
DTE Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Saturday, April 15th. Investors of record on Monday, March 20th were given a dividend of $0.9525 per share. The ex-dividend date was Friday, March 17th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.95. This represents a $3.81 dividend on an annualized basis and a yield of 3.35%. DTE Energy’s dividend payout ratio is 69.02%.
DTE Energy Company Profile
DTE Energy Co operates as a diversified energy company, which engages in the development and management of energy-related businesses and services. It operates through the following segments: Electric, Gas, DTE Vantage, Energy Trading, and Corporate and Other. The Electric segment consists of generation, purchase, distribution, and sale of electricity to residential, commercial, and industrial customers in southeastern Michigan.
Featured Stories
- Get a free copy of the StockNews.com research report on DTE Energy (DTE)
- 3 Medtech Companies with Higher Future Share Prices
- Buying the Dip On Albemarle, Fundamentals Still Sound
- Freeport McMoRan May be Coming Off The Commodities Peak Cycle
- MarketBeat Week in Review – 4/17 – 4/21
- 2 Industrial Strength Dividend Stocks Melting Up
Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy (NYSE:DTE – Get Rating).
Receive News & Ratings for DTE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy and related companies with MarketBeat.com's FREE daily email newsletter.
