Read Jacobs Levy Equity Management Inc. Has $4.45 Million Position in DTE Energy Company $DTE at ETF Daily News
Jacobs Levy Equity Management Inc. boosted its stake in shares of DTE Energy Company (NYSE:DTE – Free Report) by 250.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,199 shares of the utilities provider’s stock after buying an additional 23,001 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in DTE Energy were worth $4,452,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hancock Whitney Corp lifted its holdings in DTE Energy by 1.7% during the 1st quarter. Hancock Whitney Corp now owns 14,686 shares of the utilities provider’s stock worth $2,031,000 after buying an additional 244 shares during the period. Ancora Advisors LLC lifted its holdings in DTE Energy by 421.2% during the 1st quarter. Ancora Advisors LLC now owns 1,303 shares of the utilities provider’s stock worth $180,000 after buying an additional 1,053 shares during the period. Aprio Wealth Management LLC acquired a new position in DTE Energy during the 1st quarter worth about $201,000. Federation des caisses Desjardins du Quebec lifted its holdings in DTE Energy by 93.0% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 7,471 shares of the utilities provider’s stock worth $1,033,000 after buying an additional 3,600 shares during the period. Finally, Dark Forest Capital Management LP lifted its holdings in DTE Energy by 288.7% during the 1st quarter. Dark Forest Capital Management LP now owns 37,184 shares of the utilities provider’s stock worth $5,141,000 after buying an additional 27,617 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.
DTE Energy Stock Performance
Shares of DTE Energy stock opened at $134.66 on Tuesday. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The firm has a market capitalization of $27.95 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.71 and a beta of 0.42. The business has a 50-day simple moving average of $136.82 and a 200 day simple moving average of $135.12. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57.
DTE Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DTE Energy’s payout ratio is presently 62.73%.
Analysts Set New Price Targets
Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on DTE Energy from $145.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Wall Street Zen raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays boosted their price objective on DTE Energy from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Morgan Stanley set a $140.00 price objective on DTE Energy and gave the company an “overweight” rating in a research note on Thursday, August 21st. Finally, Citigroup reissued a “buy” rating and issued a $151.00 price objective (up from $142.00) on shares of DTE Energy in a research note on Friday, May 23rd. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, DTE Energy presently has an average rating of “Moderate Buy” and a consensus price target of $143.38.
Read Our Latest Research Report on DTE Energy
Insider Buying and Selling
In related news, VP Lisa A. Muschong sold 1,600 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total value of $224,848.00. Following the completion of the sale, the vice president directly owned 4,153 shares of the company’s stock, valued at $583,621.09. The trade was a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.
DTE Energy Profile
DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.
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