DTE Energy Company (NYSE:DTE) Position Trimmed by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in DTE Energy Company (NYSE:DTE) by 63.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,929 shares of the utilities provider’s stock after selling 20,271 shares during the period. Westpac Banking Corp’s holdings in DTE Energy were worth $1,262,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL raised its stake in shares of DTE Energy by 171.2% in the second quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the utilities provider’s stock valued at $1,894,000 after acquiring an additional 11,300 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of DTE Energy by 56.5% in the first quarter. Toronto Dominion Bank now owns 48,419 shares of the utilities provider’s stock valued at $4,943,000 after acquiring an additional 17,478 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of DTE Energy by 1.9% in the second quarter. Shell Asset Management Co. now owns 16,404 shares of the utilities provider’s stock valued at $1,735,000 after acquiring an additional 300 shares in the last quarter. GAM Holding AG raised its stake in shares of DTE Energy by 27.0% in the second quarter. GAM Holding AG now owns 24,877 shares of the utilities provider’s stock valued at $2,632,000 after acquiring an additional 5,291 shares in the last quarter. Finally, Glenview Trust Co raised its stake in shares of DTE Energy by 4.2% in the first quarter. Glenview Trust Co now owns 41,984 shares of the utilities provider’s stock valued at $4,287,000 after acquiring an additional 1,679 shares in the last quarter. Institutional investors own 68.63% of the company’s stock.

In other DTE Energy news, Chairman Gerard M. Anderson sold 12,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $106.83, for a total value of $1,281,960.00. Following the transaction, the chairman now directly owns 80,000 shares in the company, valued at $8,546,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Larry E. Steward sold 9,999 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $107.52, for a total transaction of $1,075,092.48. Following the completion of the transaction, the insider now owns 39,698 shares in the company, valued at $4,268,328.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,631 shares of company stock worth $2,756,681. Corporate insiders own 0.53% of the company’s stock.

DTE Energy Company (NYSE:DTE) opened at 111.45 on Friday. The firm has a market capitalization of $19.99 billion, a P/E ratio of 19.19 and a beta of 0.22. The company’s 50 day moving average price is $110.40 and its 200 day moving average price is $106.47. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $113.71.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Analysts anticipate that DTE Energy Company will post $5.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a $0.825 dividend. The ex-dividend date is Friday, September 15th. This represents a $3.30 annualized dividend and a dividend yield of 2.96%. DTE Energy’s dividend payout ratio is currently 56.60%.

A number of analysts have weighed in on DTE shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a report on Tuesday, August 29th. KeyCorp reissued a “buy” rating and set a $113.00 price target on shares of DTE Energy in a report on Sunday, August 27th. BidaskClub raised DTE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. Finally, Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $109.20.

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DTE Energy Company Profile

Institutional Ownership by Quarter for DTE Energy (NYSE:DTE)

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