Oppenheimer & Co. Inc. Sells 374 Shares of DTE Energy Company (DTE)

Oppenheimer & Co. Inc. trimmed its holdings in shares of DTE Energy Company (NYSE:DTE) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,981 shares of the utilities provider’s stock after selling 374 shares during the period. Oppenheimer & Co. Inc.’s holdings in DTE Energy were worth $844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Acadian Asset Management LLC grew its holdings in DTE Energy by 65.3% during the first quarter. Acadian Asset Management LLC now owns 4,517 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 1,784 shares during the period. Janney Montgomery Scott LLC grew its holdings in DTE Energy by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,200 shares of the utilities provider’s stock valued at $429,000 after purchasing an additional 163 shares during the period. LSV Asset Management grew its holdings in DTE Energy by 1.3% during the first quarter. LSV Asset Management now owns 94,700 shares of the utilities provider’s stock valued at $9,669,000 after purchasing an additional 1,200 shares during the period. Chicago Equity Partners LLC grew its holdings in DTE Energy by 2.7% during the first quarter. Chicago Equity Partners LLC now owns 4,120 shares of the utilities provider’s stock valued at $421,000 after purchasing an additional 110 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in DTE Energy by 10.6% during the first quarter. Daiwa Securities Group Inc. now owns 5,200 shares of the utilities provider’s stock valued at $531,000 after purchasing an additional 500 shares during the period. 68.63% of the stock is owned by institutional investors and hedge funds.

DTE Energy Company (DTE) opened at 112.84 on Monday. DTE Energy Company has a 12 month low of $89.66 and a 12 month high of $113.00. The company has a market capitalization of $20.24 billion, a price-to-earnings ratio of 19.43 and a beta of 0.22. The stock has a 50 day moving average of $109.75 and a 200 day moving average of $106.06.

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

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 18th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, September 15th. DTE Energy’s dividend payout ratio is currently 56.60%.

DTE has been the subject of a number of analyst reports. BidaskClub cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. KeyCorp reiterated a “buy” rating and issued a $113.00 price target on shares of DTE Energy in a report on Sunday, August 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $121.00 price target on shares of DTE Energy in a report on Tuesday, August 29th. Zacks Investment Research cut shares of DTE Energy from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $111.00 price target on shares of DTE Energy in a report on Friday, July 28th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $109.20.

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In related news, insider Larry E. Steward sold 9,999 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 39,698 shares in the company, valued at approximately $4,268,328.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark W. Stiers sold 3,632 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $110.03, for a total value of $399,628.96. Following the completion of the sale, the insider now owns 25,257 shares in the company, valued at $2,779,027.71. The disclosure for this sale can be found here. Insiders sold a total of 25,631 shares of company stock worth $2,756,681 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

DTE Energy Company Profile

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

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