Castleton Investment Management Lowers stake in DTE Energy Co (DTE)

DTE Energy Co (DTE) : Castleton Investment Management reduced its stake in DTE Energy Co by 24.32% during the most recent quarter end. The investment management company now holds a total of 169,606 shares of DTE Energy Co which is valued at $15,498,596 after selling 54,500 shares in DTE Energy Co , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.DTE Energy Co makes up approximately 7.53% of Castleton Investment Management’s portfolio.

Other Hedge Funds, Including , Capital Research Global Investors reduced its stake in DTE by selling 3,389,522 shares or 64.85% in the most recent quarter. The Hedge Fund company now holds 1,837,100 shares of DTE which is valued at $167,874,198. DTE Energy Co makes up approx 0.06% of Capital Research Global Investors’s portfolio. Fdo Partners sold out all of its stake in DTE during the most recent quarter. The investment firm sold 2,727 shares of DTE which is valued $248,921.Intrust Bank Na boosted its stake in DTE in the latest quarter, The investment management firm added 85 additional shares and now holds a total of 3,280 shares of DTE Energy Co which is valued at $312,551. DTE Energy Co makes up approx 0.13% of Intrust Bank Na’s portfolio. White Pine Investment Co sold out all of its stake in DTE during the most recent quarter. The investment firm sold 8,293 shares of DTE which is valued $771,995.Nationwide Fund Advisors reduced its stake in DTE by selling 2,815 shares or 1.96% in the most recent quarter. The Hedge Fund company now holds 140,774 shares of DTE which is valued at $13,058,196. DTE Energy Co makes up approx 0.06% of Nationwide Fund Advisors’s portfolio.

DTE Energy Co closed down -0.46 points or -0.50% at $91.22 with 8,77,234 shares getting traded on Monday. Post opening the session at $91.63, the shares hit an intraday low of $90.91 and an intraday high of $92.22 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, DTE Energy Co reported $1.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.37 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.59. The company had revenue of $2928.00 million for the quarter, compared to analysts expectations of $2653.05 million. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS.

Investors should note that on Nov 4, 2016, DTE Energy Co announced a cash dividend of $0.8250. The company’s management has announced Dec 15, 2016 as the ex-dividend date and fixed the record date on Dec 19, 2016. The payable date has been fixed on Jan 15, 2017.

Many Wall Street Analysts have commented on DTE Energy Co. DTE Energy Co was Initiated by Jefferies to “Buy” on Nov 14, 2016.

DTE Energy Company (DTE) is an energy company. The Company’s other businesses are involved in natural gas pipelines gathering and storage power and industrial projects and energy marketing and trading operations. Its segments include Electric Gas Gas Storage and Pipelines Power and Industrial Projects Energy Trading and Corporate and Other. Its utility operations consist primarily of DTE Electric and DTE Gas. The Electric segment consists of DTE Electric which is engaged in the generation purchase distribution and sale of electricity to approximately 2.1 million customers in southeastern Michigan. The Gas segment consists of DTE Gas which is engaged in the purchase storage transportation distribution and sale of natural gas to approximately 1.2 million residential commercial and industrial customers throughout Michigan and the sale of gas storage and transportation capacity. Its Corporate and Other segment includes various holding company activities.

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