Mutual of America Capital Management LLC boosted its stake in DTE Energy (NYSE:DTE – Get Rating) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,837 shares of the utilities provider’s stock after purchasing an additional 561 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DTE Energy were worth $3,782,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its position in shares of DTE Energy by 70.7% in the second quarter. Lazard Asset Management LLC now owns 210 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Elequin Capital LP bought a new position in DTE Energy in the 1st quarter valued at $35,000. Charter Oak Capital Management LLC purchased a new position in shares of DTE Energy during the 2nd quarter valued at $39,000. Sound Income Strategies LLC grew its position in shares of DTE Energy by 96.7% during the 2nd quarter. Sound Income Strategies LLC now owns 362 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 178 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of DTE Energy in the second quarter worth $46,000. Hedge funds and other institutional investors own 73.80% of the company’s stock.
Analysts Set New Price Targets
DTE has been the subject of several research analyst reports. StockNews.com started coverage on DTE Energy in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company dropped their price objective on shares of DTE Energy from $147.00 to $128.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. Credit Suisse Group increased their target price on DTE Energy to $140.00 in a research note on Tuesday, August 9th. TheStreet downgraded DTE Energy from a “b” rating to a “c+” rating in a research report on Thursday, October 6th. Finally, Citigroup reduced their price objective on DTE Energy from $146.00 to $139.00 in a research report on Friday, October 28th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.73.
DTE Energy Stock Up 1.2 %
DTE Energy (NYSE:DTE – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The utilities provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. DTE Energy had a net margin of 5.79% and a return on equity of 12.90%. During the same period in the previous year, the business earned $1.72 EPS. On average, equities research analysts expect that DTE Energy will post 6.02 earnings per share for the current year.
DTE Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Monday, December 19th will be paid a dividend of $0.952 per share. The ex-dividend date is Friday, December 16th. This is a boost from DTE Energy’s previous quarterly dividend of $0.89. This represents a $3.81 annualized dividend and a dividend yield of 3.32%. DTE Energy’s payout ratio is 61.25%.
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.3 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.
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