Acorn Wealth Advisors LLC Reduces Stake in DTE Energy (NYSE:DTE)

Acorn Wealth Advisors LLC lowered its stake in DTE Energy (NYSE:DTE) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,089 shares of the utilities provider’s stock after selling 239 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in DTE Energy were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in shares of DTE Energy by 2.2% in the third quarter. Assenagon Asset Management S.A. now owns 6,550 shares of the utilities provider’s stock valued at $841,000 after acquiring an additional 143 shares during the period. Lake Street Advisors Group LLC purchased a new stake in DTE Energy in the 3rd quarter worth approximately $200,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DTE Energy by 47.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,416 shares of the utilities provider’s stock valued at $1,709,000 after purchasing an additional 4,340 shares during the period. Forsta AP Fonden grew its position in shares of DTE Energy by 8.6% during the 3rd quarter. Forsta AP Fonden now owns 59,300 shares of the utilities provider’s stock valued at $7,615,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of DTE Energy by 2.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,657 shares of the utilities provider’s stock worth $2,267,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Finally, Scotiabank increased their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus price target of $135.67.

Insider Buying and Selling at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $132.33 on Tuesday. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.41 and a beta of 0.68. The firm’s 50-day moving average price is $122.37 and its two-hundred day moving average price is $123.50. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 12-month low of $103.06 and a 12-month high of $133.45.

DTE Energy (NYSE:DTE) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, equities analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is currently 64.40%.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.