OppenheimerFunds Inc. grew its stake in shares of DTE Energy Co (NYSE:DTE) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,719 shares of the utilities provider’s stock after buying an additional 1,341 shares during the quarter. OppenheimerFunds Inc.’s holdings in DTE Energy were worth $1,830,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. purchased a new stake in shares of DTE Energy during the third quarter valued at approximately $111,000. SeaCrest Wealth Management LLC purchased a new stake in shares of DTE Energy during the fourth quarter valued at approximately $138,000. Lenox Wealth Advisors Inc. purchased a new stake in shares of DTE Energy during the fourth quarter valued at approximately $190,000. Capital One National Association purchased a new stake in shares of DTE Energy during the fourth quarter valued at approximately $201,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of DTE Energy during the fourth quarter valued at approximately $222,000. 68.43% of the stock is owned by hedge funds and other institutional investors.
Shares of DTE Energy Co (NYSE DTE) opened at $100.91 on Tuesday. DTE Energy Co has a 52 week low of $97.66 and a 52 week high of $116.74. The company has a market capitalization of $18,033.57, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.89 and a beta of 0.19. The company has a quick ratio of 0.82, a current ratio of 1.10 and a debt-to-equity ratio of 1.22.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Monday, March 19th will be paid a $0.8825 dividend. This represents a $3.53 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Friday, March 16th. DTE Energy’s payout ratio is 55.77%.
A number of research firms have recently weighed in on DTE. Guggenheim reissued a “buy” rating and set a $112.00 price objective on shares of DTE Energy in a research note on Friday, February 23rd. Bank of America increased their price objective on DTE Energy from $101.00 to $104.00 and gave the company an “underperform” rating in a research note on Tuesday, February 20th. Credit Suisse Group reissued a “neutral” rating and set a $107.00 price objective (up previously from $106.00) on shares of DTE Energy in a research note on Tuesday, February 20th. UBS Group assumed coverage on DTE Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $108.00 price target for the company. Finally, Zacks Investment Research lowered DTE Energy from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $111.55.
In other DTE Energy news, CEO Gerard M. Anderson sold 12,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $102.53, for a total transaction of $1,281,625.00. Following the completion of the transaction, the chief executive officer now owns 87,358 shares of the company’s stock, valued at $8,956,815.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Ruud sold 7,680 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $100.54, for a total value of $772,147.20. The disclosure for this sale can be found here. Insiders sold 21,521 shares of company stock valued at $2,189,173 in the last ninety days. 0.53% of the stock is currently owned by insiders.
About DTE Energy
DTE Energy Company is an energy company. Its segments include Electric, which consists of DTE Electric Company, which is engaged in the generation, purchase, distribution and sale of electricity to residential, commercial and industrial customers in southeastern Michigan; Gas, which consists of DTE Gas Company, which is engaged in the purchase, storage, transportation, distribution and sale of natural gas to residential, commercial and industrial customers throughout Michigan; Gas Storage and Pipelines, which consists of natural gas pipeline, gathering and storage businesses; Power and Industrial Projects, which consists of projects that deliver energy and utility-type products and services to industrial, commercial and institutional customers, and sell electricity from renewable energy projects; Energy Trading, which consists of energy marketing and trading operations, and Corporate and Other, which includes various holding company activities and holds certain non-utility debt.
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