Avantax Advisory Services Inc. Buys 2,211 Shares of DTE Energy (NYSE:DTE)

Avantax Advisory Services Inc. grew its stake in DTE Energy (NYSE:DTE) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,904 shares of the utilities provider’s stock after purchasing an additional 2,211 shares during the quarter. Avantax Advisory Services Inc.’s holdings in DTE Energy were worth $1,679,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of DTE Energy in the 3rd quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in DTE Energy in the 3rd quarter worth about $35,000. Versant Capital Management Inc increased its stake in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after buying an additional 267 shares during the last quarter. Coastline Trust Co bought a new position in shares of DTE Energy during the 3rd quarter worth approximately $39,000. Finally, Robbins Farley purchased a new position in shares of DTE Energy in the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

Shares of NYSE DTE opened at $135.60 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $136.31. The stock has a market cap of $28.10 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The stock has a fifty day moving average of $126.10 and a 200-day moving average of $124.55.

DTE Energy (NYSE:DTE) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Insider Transactions 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 stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DTE. BMO Capital Markets lifted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Scotiabank lifted their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.09.

DTE Energy Company Profile

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.