SG Americas Securities LLC Decreases Holdings in DTE Energy Co (DTE)

SG Americas Securities LLC reduced its position in shares of DTE Energy Co (NYSE:DTE) by 92.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,386 shares of the utilities provider’s stock after selling 62,216 shares during the quarter. SG Americas Securities LLC’s holdings in DTE Energy were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacad Investment Ltd. bought a new stake in shares of DTE Energy during the 2nd quarter worth $106,000. Sun Life Financial INC boosted its stake in shares of DTE Energy by 13,030.0% during the 2nd 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 boosted its stake in shares of DTE Energy by 0.8% during the 2nd 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. D.A. Davidson & CO. boosted its stake in shares of DTE Energy by 36.1% during the 2nd quarter. D.A. Davidson & CO. now owns 1,497 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 397 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in shares of DTE Energy during the 2nd quarter worth $161,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Shares of DTE Energy Co (NYSE DTE) opened at $115.49 on Friday. The stock has a market capitalization of $20,717.75, a price-to-earnings ratio of 22.43, a PEG ratio of 3.47 and a beta of 0.23. DTE Energy Co has a 1-year low of $95.23 and a 1-year high of $116.74. 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 released its earnings results on Wednesday, October 25th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.05). The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.80 billion. DTE Energy had a net margin of 8.01% and a return on equity of 9.56%. DTE Energy’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 EPS. sell-side analysts expect that DTE Energy Co will post 5.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Monday, December 18th will be issued a dividend of $0.8825 per share. This represents a $3.53 annualized dividend and a dividend yield of 3.06%. This is a positive change from DTE Energy’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, December 15th. DTE Energy’s dividend payout ratio (DPR) is currently 60.44%.

In related news, Chairman Gerard M. Anderson sold 12,389 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $112.93, for a total transaction 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 available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

DTE has been the subject of several research reports. Jefferies Group reissued a “buy” rating and set a $121.00 price objective on shares of DTE Energy in a research note 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 DTE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Credit Suisse Group reduced their target price on DTE Energy from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Finally, Bank of America began coverage on DTE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $112.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $111.50.

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DTE Energy Profile

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

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