PGGM Investments Decreases Position in DTE Energy Company (DTE)

PGGM Investments decreased its position in DTE Energy Company (NYSE:DTE) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,227 shares of the utilities provider’s stock after selling 3,684 shares during the period. PGGM Investments owned about 0.15% of DTE Energy worth $27,741,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in DTE Energy by 56.5% in the first quarter. Toronto Dominion Bank now owns 48,419 shares of the utilities provider’s stock worth $4,943,000 after buying an additional 17,478 shares during the period. Russell Investments Group Ltd. raised its position in DTE Energy by 129.0% in the first quarter. Russell Investments Group Ltd. now owns 403,811 shares of the utilities provider’s stock worth $41,222,000 after buying an additional 227,469 shares during the period. Suntrust Banks Inc. raised its position in DTE Energy by 6.2% in the first quarter. Suntrust Banks Inc. now owns 25,764 shares of the utilities provider’s stock worth $2,630,000 after buying an additional 1,502 shares during the period. Massmutual Trust Co. FSB ADV raised its position in DTE Energy by 4.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,018 shares of the utilities provider’s stock worth $410,000 after buying an additional 185 shares during the period. Finally, Glenview Trust Co raised its position in DTE Energy by 4.2% in the first quarter. Glenview Trust Co now owns 41,984 shares of the utilities provider’s stock worth $4,287,000 after buying an additional 1,679 shares during the period. 67.75% of the stock is currently owned by institutional investors.

DTE Energy Company (DTE) traded up 0.07% during midday trading on Tuesday, hitting $109.01. The company had a trading volume of 184,860 shares. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of 18.77 and a beta of 0.21. The stock has a 50 day moving average of $107.28 and a 200 day moving average of $103.79. DTE Energy Company has a 52-week low of $89.66 and a 52-week high of $111.35.

DTE Energy (NYSE:DTE) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share for the quarter, topping the 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 return on equity of 10.67% and a net margin of 8.80%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. On average, analysts anticipate that DTE Energy Company will post $5.41 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio (DPR) is currently 56.60%.

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DTE has been the topic of a number of recent research reports. Barclays PLC reissued an “overweight” rating and set a $115.00 price objective (up previously from $106.00) on shares of DTE Energy in a research note on Sunday, April 23rd. Zacks Investment Research upgraded DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Tuesday, April 11th. BidaskClub downgraded DTE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets restated a “hold” rating and issued a $111.00 target price on shares of DTE Energy in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $117.00 target price (up previously from $108.50) on shares of DTE Energy in a research report on Thursday, April 27th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. DTE Energy currently has an average rating of “Hold” and a consensus price target of $108.00.

In related news, Chairman Gerard M. Anderson sold 12,000 shares of the stock in a transaction on Friday, July 28th. The stock was 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 of the company’s stock, valued at approximately $8,546,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Lisa A. Muschong sold 426 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $109.51, for a total value of $46,651.26. Following the completion of the transaction, the vice president now directly owns 2,543 shares in the company, valued at $278,483.93. The disclosure for this sale can be found here. Insiders sold a total of 32,263 shares of company stock worth $3,489,815 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

About DTE Energy

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

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