IFP Advisors Inc Sells 40 Shares of DTE Energy Company (DTE)

IFP Advisors Inc cut its position in DTE Energy Company (NYSE:DTE) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,109 shares of the utilities provider’s stock after selling 40 shares during the period. IFP Advisors Inc’s holdings in DTE Energy were worth $1,704,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DTE. Gradient Investments LLC raised its stake in shares of DTE Energy by 0.3% in the second quarter. Gradient Investments LLC now owns 1,048 shares of the utilities provider’s stock worth $111,000 after buying an additional 3 shares during the last quarter. Whittier Trust Co. raised its stake in shares of DTE Energy by 1.1% in the first quarter. Whittier Trust Co. now owns 1,279 shares of the utilities provider’s stock worth $131,000 after buying an additional 14 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of DTE Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider’s stock worth $158,000 after buying an additional 237 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of DTE Energy by 226.0% in the first quarter. Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider’s stock worth $158,000 after buying an additional 1,069 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of DTE Energy by 2.1% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,633 shares of the utilities provider’s stock worth $173,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 67.75% of the company’s stock.

Shares of DTE Energy Company (NYSE:DTE) opened at 108.93 on Tuesday. DTE Energy Company has a 12-month low of $89.66 and a 12-month high of $111.35. The company’s 50-day moving average is $107.28 and its 200-day moving average is $103.79. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 18.76 and a beta of 0.21.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a return on equity of 10.67% and a net margin of 8.80%. DTE Energy’s revenue was up 26.2% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Analysts predict that DTE Energy Company will post $5.41 EPS for the current year.

The business also recently declared 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. The ex-dividend date is Friday, September 15th. This represents a $3.30 dividend on an annualized basis and a yield of 3.03%. DTE Energy’s dividend payout ratio is presently 56.60%.

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A number of equities research analysts have recently weighed in on DTE shares. BidaskClub lowered shares of DTE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC restated a “buy” rating and issued a $117.00 price objective (up from $108.50) on shares of DTE Energy in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of DTE Energy from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Tuesday, April 11th. BMO Capital Markets restated a “hold” rating and issued a $111.00 price objective on shares of DTE Energy in a report on Friday, July 28th. Finally, Deutsche Bank AG boosted their price objective on shares of DTE Energy from $100.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $108.00.

In related news, SVP Bruce D. Peterson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $110.08, for a total value of $550,400.00. Following the completion of the sale, the senior vice president now directly owns 29,156 shares in the company, valued at $3,209,492.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Larry E. Steward sold 9,999 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $107.52, for a total value of $1,075,092.48. Following the completion of the sale, the insider now owns 39,698 shares of the company’s stock, valued at $4,268,328.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,263 shares of company stock valued at $3,489,815. 0.53% of the stock is owned by corporate insiders.

About DTE Energy

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

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