State of Alaska Department of Revenue Has $4 Million Position in DTE Energy Co (DTE)
State of Alaska Department of Revenue lifted its stake in shares of DTE Energy Co (NYSE:DTE) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,539 shares of the utilities provider’s stock after purchasing an additional 11,160 shares during the quarter. State of Alaska Department of Revenue’s holdings in DTE Energy were worth $3,998,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in DTE. Janus Henderson Group PLC raised its stake in shares of DTE Energy by 7,495.0% during the 2nd quarter. Janus Henderson Group PLC now owns 1,645,752 shares of the utilities provider’s stock valued at $174,104,000 after purchasing an additional 1,624,083 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of DTE Energy by 36.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,122,051 shares of the utilities provider’s stock valued at $224,492,000 after purchasing an additional 572,523 shares during the period. APG Asset Management N.V. raised its stake in shares of DTE Energy by 190.0% during the 3rd quarter. APG Asset Management N.V. now owns 658,763 shares of the utilities provider’s stock valued at $70,725,000 after purchasing an additional 431,600 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of DTE Energy by 52.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 498,339 shares of the utilities provider’s stock valued at $52,719,000 after purchasing an additional 172,266 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of DTE Energy by 24.5% during the 3rd quarter. First Trust Advisors LP now owns 824,104 shares of the utilities provider’s stock valued at $88,476,000 after purchasing an additional 162,432 shares during the period. Institutional investors own 68.29% of the company’s stock.
In related news, Chairman Gerard M. Anderson sold 12,389 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction of $1,399,089.77. Following the completion of the transaction, the chairman now directly owns 83,000 shares in the company, valued at $9,373,190. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.
DTE Energy (NYSE:DTE) last posted its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.05). DTE Energy had a return on equity of 9.56% and a net margin of 8.01%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. DTE Energy’s quarterly revenue was up 10.8% compared to the same quarter last year. equities research analysts predict that DTE Energy Co will post 5.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Monday, December 18th were given a dividend of $0.8825 per share. This represents a $3.53 annualized dividend and a yield of 3.42%. This is a boost from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, December 15th. DTE Energy’s payout ratio is presently 64.65%.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a research note on Monday, January 8th. Credit Suisse Group decreased their price objective on DTE Energy from $113.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. Guggenheim restated a “buy” rating and set a $121.00 target price on shares of DTE Energy in a research report on Wednesday, January 3rd. Bank of America started coverage on DTE Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $112.00 target price for the company. Finally, KeyCorp restated a “buy” rating and set a $118.50 target price on shares of DTE Energy in a research report on Friday, December 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $114.39.
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About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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