DTE Energy (NYSE:DTE) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its stake in shares of DTE Energy (NYSE:DTE) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,205 shares of the utilities provider’s stock after purchasing an additional 90 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in DTE Energy were worth $146,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DTE. Allworth Financial LP boosted its position in DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp raised its stake in shares of DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 2,642 shares in the last quarter. Nordea Investment Management AB lifted its holdings in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after purchasing an additional 211,763 shares during the period. Patton Albertson Miller Group LLC grew its position in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after buying an additional 3,306 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of DTE Energy by 80.0% during the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after acquiring an additional 5,725 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Guggenheim upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley reduced their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, BMO Capital Markets raised their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $137.09.

DTE Energy Stock Up 0.3 %

DTE stock opened at $135.60 on Tuesday. DTE Energy has a 12-month low of $103.06 and a 12-month high of $136.31. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.41 and a beta of 0.59. The company has a 50 day moving average of $126.10 and a two-hundred day moving average of $124.55.

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

DTE Energy Dividend Announcement

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

Insider Activity at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction on 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 transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,877 shares of company stock valued at $1,559,205. Corporate insiders own 0.61% of the company’s stock.

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.