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Versor Investments LP Sells 8,407 Shares of DTE Energy Company $DTE

DTE Energy logo with Utilities background

Key Points

  • Versor Investments LP has decreased its position in DTE Energy Company by 50.3%, now holding 8,293 shares valued at approximately $1,147,000.
  • DTE Energy will pay a $1.09 quarterly dividend on October 15th, reflecting an annualized dividend of $4.36 and a yield of 3.1%.
  • Institutional investors now own 76.06% of DTE Energy's stock, indicating significant interest from larger financial entities in the utility sector.
  • Looking to export and analyze DTE Energy data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Versor Investments LP cut its stake in DTE Energy Company (NYSE:DTE - Free Report) by 50.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,293 shares of the utilities provider's stock after selling 8,407 shares during the quarter. Versor Investments LP's holdings in DTE Energy were worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DTE. Capital World Investors increased its position in shares of DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock valued at $823,905,000 after acquiring an additional 3,766,221 shares during the last quarter. GAMMA Investing LLC increased its position in shares of DTE Energy by 14,878.4% during the first quarter. GAMMA Investing LLC now owns 1,183,591 shares of the utilities provider's stock valued at $163,655,000 after acquiring an additional 1,175,689 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of DTE Energy by 1,794.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after acquiring an additional 871,978 shares during the last quarter. AQR Capital Management LLC increased its position in shares of DTE Energy by 750.0% during the fourth quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after acquiring an additional 851,169 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of DTE Energy by 57.4% during the first quarter. JPMorgan Chase & Co. now owns 1,405,516 shares of the utilities provider's stock valued at $194,341,000 after acquiring an additional 512,567 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DTE Energy

In other DTE Energy news, VP Lisa A. Muschong sold 1,600 shares of DTE Energy stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $140.53, for a total transaction of $224,848.00. Following the completion of the sale, the vice president owned 4,153 shares of the company's stock, valued at $583,621.09. The trade was a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

DTE Energy Stock Performance

Shares of DTE Energy stock traded down $0.3280 during trading hours on Friday, reaching $139.8720. The company had a trading volume of 1,257,249 shares, compared to its average volume of 1,309,809. DTE Energy Company has a one year low of $115.59 and a one year high of $142.05. The business has a fifty day simple moving average of $135.85 and a 200 day simple moving average of $134.27. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.94 and a quick ratio of 0.57. The firm has a market cap of $29.04 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.42.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). DTE Energy had a return on equity of 12.72% and a net margin of 10.16%.The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, analysts anticipate that DTE Energy Company will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.36 annualized dividend and a yield of 3.1%. DTE Energy's payout ratio is 62.73%.

Analyst Ratings Changes

A number of brokerages recently commented on DTE. Citigroup reaffirmed a "buy" rating and set a $151.00 price target (up from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wall Street Zen raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Barclays increased their price objective on DTE Energy from $136.00 to $138.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company increased their price objective on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.29.

Check Out Our Latest Analysis on DTE

DTE Energy Profile

(Free Report)

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

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