Wealthfront Advisers LLC Has $2.11 Million Stake in DTE Energy Co (NYSE:DTE)
Wealthfront Advisers LLC increased its position in DTE Energy Co (NYSE:DTE) by 9.9% in the first quarter, HoldingsChannel.com reports. The fund owned 16,918 shares of the utilities provider’s stock after acquiring an additional 1,521 shares during the quarter. Wealthfront Advisers LLC’s holdings in DTE Energy were worth $2,110,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its stake in DTE Energy by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 19,856,235 shares of the utilities provider’s stock valued at $2,166,911,000 after acquiring an additional 311,679 shares during the last quarter. BlackRock Inc. raised its stake in DTE Energy by 3.9% during the 4th quarter. BlackRock Inc. now owns 15,212,035 shares of the utilities provider’s stock valued at $1,677,888,000 after acquiring an additional 577,066 shares during the last quarter. Northern Trust Corp raised its stake in DTE Energy by 3.8% during the 1st quarter. Northern Trust Corp now owns 2,418,652 shares of the utilities provider’s stock valued at $301,703,000 after acquiring an additional 88,605 shares during the last quarter. Geode Capital Management LLC raised its stake in DTE Energy by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 2,344,758 shares of the utilities provider’s stock valued at $258,174,000 after acquiring an additional 150,611 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in DTE Energy by 1.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,796,612 shares of the utilities provider’s stock valued at $198,166,000 after acquiring an additional 27,301 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine downgraded DTE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. KeyCorp started coverage on DTE Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $136.00 target price for the company. Bank of America cut their target price on DTE Energy from $124.00 to $122.00 and set an “underperform” rating for the company in a research note on Monday, June 3rd. Finally, Credit Suisse Group set a $117.00 target price on DTE Energy and gave the stock a “sell” rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $122.15.
DTE Energy (NYSE:DTE) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.10. DTE Energy had a return on equity of 10.99% and a net margin of 8.30%. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business posted $1.91 EPS. On average, research analysts expect that DTE Energy Co will post 6.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, June 14th. DTE Energy’s payout ratio is currently 60.00%.
In other DTE Energy news, VP Lisa A. Muschong sold 237 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $128.86, for a total transaction of $30,539.82. Following the sale, the vice president now owns 2,100 shares in the company, valued at approximately $270,606. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Peter B. Oleksiak sold 1,500 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $125.25, for a total value of $187,875.00. Following the sale, the chief financial officer now owns 40,208 shares in the company, valued at approximately $5,036,052. The disclosure for this sale can be found here. Insiders sold a total of 21,737 shares of company stock valued at $2,744,715 over the last ninety days. 0.55% of the stock is currently owned by company insiders.
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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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