Jefferies Group analyst A. Crowdell forecasts that the utilities provider will post earnings of $1.73 per share for the quarter. The rating was maintained by Jefferies on Friday, July 21 with "Buy".
DTE Energy has filed a Certificate of Necessity with the Michigan Public Service Commission (MPSC) seeking to build a state-of-the-art natural gas-fired power plant of about 1,100 megawatts (MW) on existing company property in East China Township, Mich., that will provide affordable and reliable power for 850,000 homes beginning in 2022. About shares traded. DTE Energy Co (NYSE:DTE) has risen 19.61% since July 31, 2016 and is uptrending. The utilities provider reported $1.07 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.99 by $0.08. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.35 billion. DTE Energy had a net margin of 8.80% and a return on equity of 10.67%. The firm's revenue was up 26.2% compared to the same quarter previous year. During the same quarter a year ago, the business earned $0.98 earnings per share. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and global copyright legislation. If you are accessing this piece of content on another domain, it was stolen and republished in violation of global copyright & trademark legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/07/31/dte-energy-company-nysedte-stake-held-by-hoertkorn-richard-charles-updated-updated.html.
DTE has been the subject of several other reports. Finally, Zacks Investment Research upgraded shares of DTE Energy from a "hold" rating to a "buy" rating and set a $116.00 price target for the company in a research note on Tuesday, April 11th. BidaskClub downgraded shares of DTE Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 24th. Barclays PLC restated an "overweight" rating and set a $115.00 price objective (up previously from $106.00) on shares of DTE Energy in a report on Sunday, April 23rd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. The company has a consensus rating of "Hold" and an average target price of $108.00.
DTE Energy (DTE) opened at 106.72 on Friday. The stock has a market capitalization of $19.14 billion, a PE ratio of 18.37 and a beta of 0.21. The stock was sold at an average price of $110.08, for a total transaction of $550,400.00. DTE Energy Company has a 1-year low of $89.66 and a 1-year high of $111.35.
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Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of DTE Energy by 18.0% in the first quarter. HighPoint Advisor Group LLC now owns 3,645 shares of the utilities provider's stock worth $368,000 after buying an additional 171 shares during the period. 387,755 are owned by Dimensional Fund Advsr L P. Pennsylvania-based Vantage Investment Ltd Liability has invested 0.05% in DTE Energy Co (NYSE:DTE). Whittier Trust Co. now owns 1,279 shares of the utilities provider's stock worth $131,000 after buying an additional 14 shares during the last quarter. National Pension Service boosted its position in DTE Energy by 13.9% in the second quarter. Johnson Financial Group Inc. raised its stake in shares of DTE Energy by 226.0% in the first quarter. Van ECK Associates Corp now owns 1,551 shares of the utilities provider's stock worth $158,000 after buying an additional 237 shares during the last quarter. The shares were sold at an average price of $104.21, for a total value of $395,998.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
In related news, SVP Bruce D. Peterson sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 6th. Following the completion of the sale, the senior vice president now directly owns 29,156 shares of the company's stock, valued at approximately $3,209,492.48. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock valued at $1,528,761 in the last three months.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, September 15th. DTE Energy's dividend payout ratio (DPR) is now 56.60%. IBM Retirement Fund now owns 4,416 shares of the utilities provider's stock valued at $521,000 after buying an additional 2,416 shares in the last quarter. The Ohio-based Private Tru Company Na has invested 0.16% in DTE Energy Co (NYSE:DTE). Johnson Financial Group Inc. now owns 1,542 shares of the utilities provider's stock worth $158,000 after buying an additional 1,069 shares in the last quarter.
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