Farther Finance Advisors LLC Trims Stock Position in DTE Energy (NYSE:DTE)

Farther Finance Advisors LLC lessened its position in shares of DTE Energy (NYSE:DTE) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,798 shares of the utilities provider’s stock after selling 790 shares during the quarter. Farther Finance Advisors LLC’s holdings in DTE Energy were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DTE. Oppenheimer Asset Management Inc. raised its position in shares of DTE Energy by 4.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,747 shares of the utilities provider’s stock valued at $738,000 after buying an additional 262 shares during the period. Metis Global Partners LLC raised its position in shares of DTE Energy by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 6,633 shares of the utilities provider’s stock valued at $852,000 after buying an additional 126 shares during the period. OneDigital Investment Advisors LLC increased its holdings in DTE Energy by 9.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,362 shares of the utilities provider’s stock valued at $560,000 after purchasing an additional 367 shares during the last quarter. CIBC Asset Management Inc increased its holdings in DTE Energy by 7.0% in the 3rd quarter. CIBC Asset Management Inc now owns 35,170 shares of the utilities provider’s stock valued at $4,516,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in DTE Energy by 9.3% in the 3rd quarter. Empowered Funds LLC now owns 3,028 shares of the utilities provider’s stock valued at $389,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Joann Chavez sold 7,062 shares of the business’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 completion of the sale, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DTE. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Scotiabank lifted their target price on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. 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 report on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.09.

DTE Energy Stock Performance

Shares of DTE stock opened at $135.60 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The firm has a fifty day moving average price of $126.10 and a 200 day moving average price of $124.55. The company has a market cap of $28.10 billion, a P/E ratio of 20.03, a PEG ratio of 2.41 and a beta of 0.59. DTE Energy has a 12 month low of $103.06 and a 12 month high of $136.31.

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

DTE Energy Dividend Announcement

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

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.