Prospera Financial Services Inc takes position in DTE Energy (NYSE:DTE)


Prospera Financial Services Inc has acquired a new stake in DTE Energy (NYSE: DTEGet a rating) in Q1, according to its last disclosure to the SEC. The fund bought 630 shares of the utility provider, valued at around $83,000.

Other hedge funds and other institutional investors also changed their stakes in the company. Old Port Advisors acquired a new position in DTE Energy shares in Q1 worth approximately $210,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in DTE Energy during Q4 worth approximately $375,000. Cambridge Investment Research Advisors Inc. increased its stake in DTE Energy by 20.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,660 shares of the utility provider valued at $4,024,000 after buying an additional 5,772 shares during the period. Transcend Capital Advisors LLC acquired a new position in DTE Energy during Q1 worth approximately $205,000. Finally, Atria Investments LLC increased its stake in DTE Energy by 2.7% in the 1st quarter. Atria Investments LLC now owns 10,840 shares of the utility provider valued at $1,433,000 after purchasing an additional 282 shares during the period. 72.21% of the shares are held by institutional investors and hedge funds.

Insider activity

Separately, Executive Vice President Robert A. Richard sold 2,900 shares of the company in a transaction that took place on Tuesday, August 2. The shares were sold at an average price of $130.31, for a total transaction of $377,899.00. Following the transaction, the executive vice president now directly owns 18,046 shares of the company, valued at $2,351,574.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Separately, Executive Vice President Robert A. Richard sold 2,900 shares of the company in a transaction that took place on Tuesday, August 2. The shares were sold at an average price of $130.31, for a total transaction of $377,899.00. Following the transaction, the executive vice president now directly owns 18,046 shares of the company, valued at $2,351,574.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Also, Vice President Lisa A. Muschong sold 600 shares of the company in a transaction that took place on Friday, May 27. The shares were sold at an average price of $134.28, for a total transaction of $80,568.00. As a result of the transaction, the vice president now directly owns 3,485 shares of the company, valued at $467,965.80. Disclosure of this sale can be found here. Insiders sold 5,300 shares of the company worth $692,701 in the past 90 days. 0.61% of the shares are held by insiders of the company.

A Wall Street analyst gives his opinion

A number of research analysts have published reports on the stock. Mizuho cut its price target on DTE Energy shares from $137.00 to $130.00 and set a “buy” rating for the company in a Monday, July 11 research note. Citigroup raised its price target on DTE Energy shares from $134.00 to $146.00 in a Tuesday, May 3 research note. Morgan Stanley lowered its price target on DTE Energy shares from $143.00 to $137.00 and set an “overweight” rating on the stock in a Monday, May 23 research report. Barclays lowered its price target on DTE Energy shares from $141.00 to $131.00 and set an “equal weight” rating on the stock in a Monday July 18 research report. Finally, Credit Suisse Group upgraded DTE Energy shares from a “neutral” rating to an “outperforming” rating and lowered its price target for the stock from $142.00 to $140.00 in a report. research on Monday, May 23. Four equity research analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.00.

DTE energy inventory up 0.1%

NYSE DTE opened at $129.10 on Friday. The company has a debt ratio of 1.82, a current ratio of 0.59 and a quick ratio of 0.47. The company’s 50-day simple moving average is $125.85 and its 200-day simple moving average is $126.81. DTE Energy has a 12-month low of $108.22 and a 12-month high of $140.23. The company has a market capitalization of $25.01 billion, a P/E ratio of 32.93, a PEG ratio of 3.57 and a beta of 0.60.

DTE Energy (NYSE: DTEGet a rating) last released its quarterly results on Thursday, July 28. The utility provider reported earnings per share (EPS) of $0.88 for the quarter, missing analyst consensus estimates of $1.02 per ($0.14). DTE Energy posted a net margin of 4.27% and a return on equity of 13.31%. In the same quarter last year, the company posted EPS of $1.70. Equity research analysts expect DTE Energy to post earnings per share of 6.02 for the current fiscal year.

DTE Energy announces dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15. Shareholders of record on Monday, September 19 will receive a dividend of $0.885 per share. The ex-date of this dividend is Friday, September 16. This represents a dividend of $3.54 on an annualized basis and a dividend yield of 2.74%. DTE Energy’s dividend payout ratio is currently 90.31%.

DTE energy profile

(Get a rating)

DTE Energy Company engages in utility operations. The Company’s Electric segment generates, purchases, distributes and sells electricity to approximately 2.3 million residential, commercial and industrial customers in Southeast Michigan. It generates electricity from fossil fuels, hydroelectric pumped storage and nuclear power plants, as well as wind power and other renewable assets.

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Institutional ownership by quarter for DTE Energy (NYSE:DTE)



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