Cognios Capital LLC Acquires New Stake in DTE Energy Co (NYSE:DTE)

Posted by Oscar Bower on Oct 24th, 2019 // Comments off

Cognios Capital LLC acquired a new stake in shares of DTE Energy Co (NYSE:DTE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,201 shares of the utilities provider’s stock, valued at approximately $425,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kistler Tiffany Companies LLC acquired a new stake in DTE Energy in the 2nd quarter worth about $26,000. Mechanics Bank Trust Department acquired a new stake in DTE Energy in the 3rd quarter worth about $29,000. Mcmillion Capital Management Inc. acquired a new position in shares of DTE Energy in the 2nd quarter valued at about $34,000. AdvisorNet Financial Inc lifted its stake in shares of DTE Energy by 85.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 328 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 151 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of DTE Energy in the 2nd quarter valued at about $45,000. 70.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:DTE opened at $128.99 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.54 and a current ratio of 0.75. DTE Energy Co has a one year low of $107.22 and a one year high of $134.37. The business’s 50-day simple moving average is $130.42 and its 200 day simple moving average is $128.35. The company has a market cap of $23.64 billion, a P/E ratio of 20.47, a PEG ratio of 3.46 and a beta of 0.21.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.10). DTE Energy had a return on equity of 10.33% and a net margin of 8.09%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Analysts predict that DTE Energy Co will post 6.21 earnings per share for the current year.

In other DTE Energy news, Director Gary Torgow purchased 1,537 shares of DTE Energy stock in a transaction on Thursday, September 5th. The stock was bought at an average price of $129.95 per share, for a total transaction of $199,733.15. Following the transaction, the director now owns 2,537 shares of the company’s stock, valued at approximately $329,683.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gerard M. Anderson sold 11,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $128.02, for a total value of $1,472,230.00. Following the transaction, the chairman now owns 80,406 shares of the company’s stock, valued at approximately $10,293,576.12. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Several equities analysts have recently weighed in on DTE shares. Bank of America raised DTE Energy from an “underperform” rating to a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. started coverage on DTE Energy in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $144.00 price objective on the stock. Credit Suisse Group reaffirmed a “neutral” rating on shares of DTE Energy in a research note on Thursday, October 17th. Wells Fargo & Co set a $145.00 price objective on DTE Energy and gave the company a “buy” rating in a research note on Monday. Finally, ValuEngine downgraded DTE Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $130.17.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to approximately 2.2 million residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through fossil-fuel, hydroelectric pumped storage, and nuclear plants, as well as wind and other renewable assets.

Cognios Capital LLC Acquires New Stake in DTE Energy Co (NYSE:DTE)

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