ARGI Investment Services LLC increased its stake in DTE Energy Company (NYSE:DTE) by 12.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,422 shares of the company’s stock after buying an additional 2,217 shares during the period. ARGI Investment Services LLC’s holdings in DTE Energy Company were worth $1,913,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Tredje AP fonden bought a new stake in shares of DTE Energy Company during the second quarter valued at about $171,000. Klingenstein Fields & Co. LLC bought a new stake in shares of DTE Energy Company during the second quarter valued at about $203,000. Capital One National Association increased its stake in shares of DTE Energy Company by 0.5% in the third quarter. Capital One National Association now owns 2,161 shares of the company’s stock valued at $203,000 after buying an additional 11 shares during the period. Community Financial Services Group LLC bought a new stake in shares of DTE Energy Company during the second quarter valued at about $207,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of DTE Energy Company during the third quarter valued at about $207,000. 67.36% of the stock is currently owned by institutional investors and hedge funds.
DTE Energy Company (NYSE:DTE) opened at 99.01 on Friday. The stock’s 50 day moving average price is $98.32 and its 200 day moving average price is $95.36. DTE Energy Company has a 12 month low of $81.75 and a 12 month high of $100.45. The firm has a market capitalization of $17.77 billion, a PE ratio of 21.79 and a beta of 0.20.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Monday, March 20th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 3.33%. DTE Energy Company’s payout ratio is 72.69%.
Several analysts recently issued reports on DTE shares. Jefferies Group LLC set a $103.00 price target on DTE Energy Company and gave the stock a “buy” rating in a report on Tuesday, November 22nd. Bank of America Corporation upgraded DTE Energy Company from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, November 22nd. Zacks Investment Research cut DTE Energy Company from a “buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Credit Suisse Group began coverage on DTE Energy Company in a research report on Wednesday, January 25th. They issued a “neutral” rating and a $102.00 target price on the stock. Finally, Barclays PLC raised their target price on DTE Energy Company from $101.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, January 20th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. DTE Energy Company has an average rating of “Buy” and an average price target of $102.25.
In other DTE Energy Company news, Chairman Gerard M. Anderson sold 15,000 shares of DTE Energy Company stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $93.74, for a total transaction of $1,406,100.00. Following the sale, the chairman now directly owns 90,000 shares of the company’s stock, valued at $8,436,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa A. Muschong sold 520 shares of DTE Energy Company stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $95.95, for a total value of $49,894.00. Following the sale, the vice president now directly owns 2,466 shares in the company, valued at $236,612.70. The disclosure for this sale can be found here. Insiders have sold 25,520 shares of company stock worth $2,410,294 over the last ninety days. Company insiders own 0.93% of the company’s stock.
About DTE Energy Company
DTE Energy Company (DTE Energy) is a diversified energy company. The Company’s utility operations consist primarily of DTE Electric Company (DTE Electric) and DTE Gas Company (DTE Gas). Its segments include Electric, Gas, Gas Storage and Pipelines, Power and Industrial Projects, Energy Trading, and Corporate and Other.
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