TD Asset Management Inc Has $28.85 Million Stock Holdings in DTE Energy Company (NYSE:DTE)

Key Points

• TD Asset Management Inc increased its holdings in DTE Energy by 1.0%, purchasing an additional 1,987 shares for a total of 208,615 shares valued at approximately $28.8 million.
• A recent analyst report noted that Barclays, Evercore ISI, and BMO Capital Markets have all raised their price targets for DTE Energy, while Wall Street Zen downgraded the stock to a "sell" rating.
• DTE Energy announced a quarterly dividend of $1.09 per share, with a planned payout on October 15th, representing an annualized yield of 3.18% based on current pricing.

TD Asset Management Inc increased its position in DTE Energy Company (NYSE:DTE - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 208,615 shares of the utilities provider's stock after purchasing an additional 1,987 shares during the period. TD Asset Management Inc owned 0.10% of DTE Energy worth $28,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. increased its holdings in DTE Energy by 5.1% in the first quarter. Bessemer Group Inc. now owns 2,192 shares of the utilities provider's stock valued at $303,000 after buying an additional 107 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of DTE Energy by 39.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after buying an additional 1,618 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of DTE Energy by 17.7% during the first quarter. Oppenheimer & Co. Inc. now owns 2,118 shares of the utilities provider's stock valued at $293,000 after buying an additional 318 shares during the period. GAMMA Investing LLC raised its stake in DTE Energy by 8.3% during the first quarter. GAMMA Investing LLC now owns 8,560 shares of the utilities provider's stock worth $1,184,000 after purchasing an additional 658 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in DTE Energy by 3.5% in the first quarter. Fifth Third Bancorp now owns 7,705 shares of the utilities provider's stock valued at $1,065,000 after acquiring an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Down 1.0%

Shares of DTE stock traded down $1.38 during trading on Wednesday, hitting $135.72. 1,971,537 shares of the company were exchanged, compared to its average volume of 1,374,166. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.59 and a current ratio of 0.87. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.72 and a beta of 0.44. The business's 50-day simple moving average is $134.33 and its 200 day simple moving average is $132.00. DTE Energy Company has a twelve month low of $115.59 and a twelve month high of $140.39.

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 the consensus estimate of $1.37 by ($0.01). The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. DTE Energy had a return on equity of 12.71% and a net margin of 10.16%. As a group, analysts forecast that DTE Energy Company will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.21%. DTE Energy's dividend payout ratio is currently 58.92%.

Analyst Ratings Changes

DTE has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research note on Monday, April 21st. Evercore ISI increased their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $151.00 price target (up previously from $142.00) on shares of DTE Energy in a research report on Friday, May 23rd. Wall Street Zen lowered shares of DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Morgan Stanley decreased their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, DTE Energy has a consensus rating of "Moderate Buy" and a consensus target price of $141.53.

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.