Raymond James Trust N.A. Trims Stake in DTE Energy Company (DTE)

Raymond James Trust N.A. cut its holdings in DTE Energy Company (NYSE:DTE) by 22.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,817 shares of the utilities provider’s stock after selling 1,117 shares during the period. Raymond James Trust N.A.’s holdings in DTE Energy were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of DTE Energy by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 18,612,462 shares of the utilities provider’s stock worth $1,900,519,000 after buying an additional 220,454 shares during the last quarter. BlackRock Inc. increased its holdings in shares of DTE Energy by 2,370.1% in the 1st quarter. BlackRock Inc. now owns 14,475,164 shares of the utilities provider’s stock worth $1,478,058,000 after buying an additional 13,889,160 shares during the last quarter. State Street Corp increased its holdings in shares of DTE Energy by 1.4% in the 1st quarter. State Street Corp now owns 9,375,298 shares of the utilities provider’s stock worth $957,313,000 after buying an additional 129,352 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of DTE Energy by 16.4% in the 1st quarter. AQR Capital Management LLC now owns 3,276,539 shares of the utilities provider’s stock worth $334,567,000 after buying an additional 461,310 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of DTE Energy by 6.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,911,309 shares of the utilities provider’s stock worth $195,164,000 after buying an additional 113,658 shares during the last quarter. Hedge funds and other institutional investors own 68.63% of the company’s stock.

In other DTE Energy news, Chairman Gerard M. Anderson sold 12,000 shares of DTE Energy stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $106.83, for a total transaction of $1,281,960.00. Following the transaction, the chairman now directly owns 80,000 shares of the company’s stock, valued at $8,546,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark W. Stiers sold 3,632 shares of DTE Energy stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $110.03, for a total transaction of $399,628.96. Following the transaction, the insider now directly owns 25,257 shares in the company, valued at $2,779,027.71. The disclosure for this sale can be found here. Insiders have sold 25,631 shares of company stock worth $2,756,681 over the last ninety days. 0.53% of the stock is owned by insiders.

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

DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. DTE Energy’s quarterly revenue was up 26.2% compared to the same quarter last year. On average, equities analysts anticipate that DTE Energy Company will post $5.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is presently 56.60%.

A number of research firms have recently weighed in on DTE. Jefferies Group LLC restated a “buy” rating and issued a $121.00 target price on shares of DTE Energy in a report on Tuesday, August 29th. KeyCorp restated a “buy” rating and issued a $113.00 target price on shares of DTE Energy in a report on Sunday, August 27th. BidaskClub upgraded shares of DTE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $109.20.

TRADEMARK VIOLATION NOTICE: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://ledgergazette.com/2017/09/17/raymond-james-trust-n-a-trims-stake-in-dte-energy-company-dte.html.

About DTE Energy

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy Company (NYSE:DTE).

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

Receive News & Ratings for DTE Energy Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DTE Energy Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply