JPMorgan Chase & Co. Raises Position in DTE Energy Co (DTE)

JPMorgan Chase & Co. boosted its stake in shares of DTE Energy Co (NYSE:DTE) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,342 shares of the utilities provider’s stock after acquiring an additional 16,125 shares during the quarter. JPMorgan Chase & Co. owned 0.41% of DTE Energy worth $79,382,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new position in DTE Energy during the second quarter worth $106,000. Spectrum Management Group Inc. acquired a new position in DTE Energy during the third quarter worth $111,000. Sun Life Financial INC raised its stake in DTE Energy by 13,030.0% during the second quarter. Sun Life Financial INC now owns 1,313 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 1,303 shares in the last quarter. Vantage Investment Advisors LLC raised its stake in DTE Energy by 0.8% during the second quarter. Vantage Investment Advisors LLC now owns 1,323 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 10 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its stake in DTE Energy by 335.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,340 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Shares of DTE Energy Co (NYSE DTE) opened at $114.35 on Wednesday. DTE Energy Co has a 12 month low of $94.93 and a 12 month high of $116.74. The firm has a market capitalization of $20,510.00, a price-to-earnings ratio of 22.43, a PEG ratio of 3.48 and a beta of 0.23. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 1.20.

DTE Energy (NYSE:DTE) last announced its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business posted $1.96 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. sell-side analysts predict that DTE Energy Co will post 5.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, December 18th will be paid a $0.8825 dividend. The ex-dividend date is Friday, December 15th. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. This represents a $3.53 dividend on an annualized basis and a dividend yield of 3.09%. DTE Energy’s dividend payout ratio (DPR) is 60.33%.

Several research analysts have issued reports on the company. Bank of America assumed coverage on DTE Energy in a research note on Tuesday, October 24th. They set an “underperform” rating and a $112.00 price objective for the company. Jefferies Group reiterated a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research note on Tuesday, August 29th. KeyCorp reiterated a “buy” rating and set a $113.00 price objective on shares of DTE Energy in a research note on Sunday, August 27th. BidaskClub upgraded DTE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Credit Suisse Group lowered their target price on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. DTE Energy presently has a consensus rating of “Hold” and a consensus target price of $111.50.

In other news, Chairman Gerard M. Anderson sold 12,389 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $112.93, for a total value of $1,399,089.77. Following the completion of the sale, the chairman now directly owns 83,000 shares in the company, valued at $9,373,190. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

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DTE Energy Company Profile

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

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