Starfire Investment Advisers Inc. boosted its stake in DTE Energy Co (NYSE:DTE) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,962 shares of the utilities provider’s stock after purchasing an additional 1,872 shares during the quarter. DTE Energy comprises about 1.1% of Starfire Investment Advisers Inc.’s holdings, making the stock its 27th biggest position. Starfire Investment Advisers Inc.’s holdings in DTE Energy were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of DTE. Hennessy Advisors Inc. grew its holdings in shares of DTE Energy by 3.6% during the first quarter. Hennessy Advisors Inc. now owns 200,804 shares of the utilities provider’s stock valued at $25,048,000 after buying an additional 7,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of DTE Energy by 30.1% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,767 shares of the utilities provider’s stock valued at $1,960,000 after buying an additional 4,106 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of DTE Energy by 14.2% during the third quarter. Pacer Advisors Inc. now owns 9,375 shares of the utilities provider’s stock valued at $1,023,000 after buying an additional 1,169 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of DTE Energy by 39.2% during the fourth quarter. California Public Employees Retirement System now owns 953,273 shares of the utilities provider’s stock valued at $105,146,000 after buying an additional 268,690 shares during the last quarter. Finally, Avitas Wealth Management LLC grew its holdings in shares of DTE Energy by 3.9% during the third quarter. Avitas Wealth Management LLC now owns 28,321 shares of the utilities provider’s stock valued at $3,091,000 after buying an additional 1,071 shares during the last quarter. Institutional investors and hedge funds own 70.43% of the company’s stock.
DTE has been the subject of a number of analyst reports. ValuEngine cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, December 31st. Goldman Sachs Group initiated coverage on shares of DTE Energy in a report on Wednesday, January 16th. They set a “buy” rating and a $121.00 price objective for the company. Zacks Investment Research upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Macquarie set a $123.00 price objective on shares of DTE Energy and gave the company a “buy” rating in a report on Saturday, February 9th. Finally, Credit Suisse Group lifted their price objective on shares of DTE Energy from $110.00 to $113.00 and gave the company an “underperform” rating in a report on Monday, February 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.42.
In other DTE Energy news, insider Trevor F. Lauer sold 1,700 shares of DTE Energy stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $122.44, for a total value of $208,148.00. Following the sale, the insider now owns 19,427 shares of the company’s stock, valued at $2,378,641.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gerard M. Anderson sold 11,000 shares of DTE Energy stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $119.39, for a total transaction of $1,313,290.00. Following the completion of the sale, the chairman now directly owns 79,906 shares in the company, valued at approximately $9,539,977.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,316 shares of company stock worth $1,834,835. Insiders own 0.55% of the company’s stock.
DTE stock traded up $0.40 during mid-day trading on Friday, hitting $123.21. The company had a trading volume of 1,336,900 shares, compared to its average volume of 1,047,773. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 3.36 and a beta of 0.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.55 and a current ratio of 0.73. DTE Energy Co has a 12 month low of $94.25 and a 12 month high of $126.07.
DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, February 7th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a return on equity of 10.85% and a net margin of 7.88%. During the same period in the prior year, the firm posted $1.26 EPS. Analysts forecast that DTE Energy Co will post 6.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, March 15th. DTE Energy’s dividend payout ratio is 60.00%.
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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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