Retirement Systems of Alabama trimmed its stake in DTE Energy (NYSE:DTE – Free Report) by 0.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 46,619 shares of the utilities provider’s stock after selling 225 shares during the period. Retirement Systems of Alabama’s holdings in DTE Energy were worth $4,628,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors grew its position in DTE Energy by 10.6% during the 2nd quarter. Capital Research Global Investors now owns 17,435,181 shares of the utilities provider’s stock worth $1,918,219,000 after purchasing an additional 1,669,375 shares during the last quarter. Millennium Management LLC grew its position in DTE Energy by 224.8% during the 4th quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock worth $279,708,000 after purchasing an additional 1,647,053 shares during the last quarter. Vanguard Group Inc. grew its position in 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. Point72 Asset Management L.P. grew its position in DTE Energy by 89.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,515,382 shares of the utilities provider’s stock worth $166,722,000 after purchasing an additional 716,482 shares during the last quarter. Finally, Morgan Stanley grew its position in DTE Energy by 34.8% during the 4th quarter. Morgan Stanley now owns 2,045,650 shares of the utilities provider’s stock worth $240,425,000 after purchasing an additional 527,592 shares during the last quarter. 74.72% of the stock is owned by hedge funds and other institutional investors.
DTE Energy Stock Down 2.2 %
Shares of NYSE DTE opened at $105.08 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.85 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $21.67 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The firm has a 50-day moving average price of $108.00 and a 200 day moving average price of $104.96. DTE Energy has a 52 week low of $90.14 and a 52 week high of $116.73.
DTE Energy (NYSE:DTE – Get Free Report) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.23). The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.96 billion. DTE Energy had a return on equity of 9.85% and a net margin of 8.99%. During the same quarter in the previous year, the firm posted $1.60 EPS. Equities research analysts anticipate that DTE Energy will post 5.75 EPS for the current fiscal year.
DTE Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 18th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, March 15th. DTE Energy’s payout ratio is currently 67.44%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of DTE Energy from $121.00 to $106.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Guggenheim cut shares of DTE Energy from a “buy” rating to a “neutral” rating and set a $111.00 target price for the company. in a research note on Monday, January 22nd. Morgan Stanley reduced their target price on shares of DTE Energy from $118.00 to $111.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Evercore ISI raised their target price on shares of DTE Energy from $108.00 to $116.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. Finally, Wolfe Research cut shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.22.
Read Our Latest Research Report on DTE
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company’s Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 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 solar assets.
See Also
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