Verition Fund Management Lowers stake in DTE Energy Co (DTE)

DTE Energy Co (DTE) : Verition Fund Management reduced its stake in DTE Energy Co by 34.37% during the most recent quarter end. The investment management company now holds a total of 42,455 shares of DTE Energy Co which is valued at $3.9 Million after selling 22,233 shares in DTE Energy Co , the firm said in a disclosure report filed with the SEC on May 13, 2016.DTE Energy Co makes up approximately 1.02% of Verition Fund Management’s portfolio.

Other Hedge Funds, Including , Meiji Yasuda Life Insurance Co reduced its stake in DTE by selling 1,200 shares or 21.09% in the most recent quarter. The Hedge Fund company now holds 4,490 shares of DTE which is valued at $408,006. DTE Energy Co makes up approx 0.06% of Meiji Yasuda Life Insurance Co’s portfolio.Hirtle Callaghan Co reduced its stake in DTE by selling 168 shares or 19.2% in the most recent quarter. The Hedge Fund company now holds 707 shares of DTE which is valued at $63,658. DTE Energy Co makes up approx 0.01% of Hirtle Callaghan Co’s portfolio.

DTE Energy Co closed down -0.53 points or -0.59% at $88.69 with 7,57,072 shares getting traded on Wednesday. Post opening the session at $89, the shares hit an intraday low of $88.36 and an intraday high of $89.1 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, DTE Energy Co reported $1.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.49. The company had revenue of $2566.00 million for the quarter, compared to analysts expectations of $2829.24 million. The company’s revenue was down -14.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.65 EPS.

Investors should note that on May 5, 2016, DTE Energy Co announced a cash dividend of $0.7300. The company’s management has announced Jun 16, 2016 as the ex-dividend date and fixed the record date on Jun 20, 2016. The payable date has been fixed on Jul 15, 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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