Spectrum Management Group Inc. Invests $111,000 in DTE Energy Company (DTE) Stock
Spectrum Management Group Inc. bought a new position in shares of DTE Energy Company (NYSE:DTE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,030 shares of the utilities provider’s stock, valued at approximately $111,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pacad Investment Ltd. acquired a new stake in shares of DTE Energy in the 2nd quarter worth approximately $106,000. Gradient Investments LLC grew its holdings in shares of DTE Energy by 0.3% in the 2nd quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 3 shares during the period. Sun Life Financial INC grew its holdings in shares of DTE Energy by 13,030.0% in the 2nd quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 1,303 shares during the period. Vantage Investment Advisors LLC grew its holdings in shares of DTE Energy by 0.8% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 10 shares during the period. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in shares of DTE Energy by 335.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 1,032 shares during the period. Institutional investors own 68.18% of the company’s stock.
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Shares of DTE Energy Company (NYSE:DTE) traded down $1.07 during trading on Friday, hitting $112.92. The company’s stock had a trading volume of 968,891 shares, compared to its average volume of 874,558. DTE Energy Company has a one year low of $90.91 and a one year high of $116.21. The stock has a market cap of $20,450.00, a price-to-earnings ratio of 22.44, a PEG ratio of 3.48 and a beta of 0.22. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 1.20.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.05). The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.80 billion. DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 earnings per share. analysts forecast that DTE Energy Company will post 5.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be issued a dividend of $0.8825 per share. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, December 15th. DTE Energy’s dividend payout ratio is presently 60.33%.
A number of equities research analysts recently issued reports on DTE shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $121.00 target price on shares of DTE Energy in a research note on Tuesday, August 29th. KeyCorp reaffirmed a “buy” rating and issued a $113.00 target price on shares of DTE Energy in a research note on Sunday, August 27th. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $111.50.
About DTE Energy
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