Intech Investment Management LLC Decreases Stake in DTE Energy (NYSE:DTE)

Intech Investment Management LLC reduced its stake in DTE Energy (NYSE:DTE) by 58.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,914 shares of the utilities provider’s stock after selling 16,574 shares during the period. Intech Investment Management LLC’s holdings in DTE Energy were worth $1,439,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allworth Financial LP increased its stake in DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 336 shares during the period. Jones Financial Companies Lllp increased 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 buying an additional 2,642 shares during the period. Nordea Investment Management AB increased its stake in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares during the period. Patton Albertson Miller Group LLC increased its stake in shares of DTE Energy by 7.6% during the fourth 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 during the period. 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 buying an additional 5,725 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. BMO Capital Markets boosted their target price 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 lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, DTE Energy currently has an average rating of “Moderate Buy” and an average target price of $138.58.

DTE Energy Trading Up 0.2 %

DTE Energy stock opened at $137.18 on Friday. 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 business’s fifty day simple moving average is $127.38 and its two-hundred day simple moving average is $124.87. DTE Energy has a 12 month low of $103.06 and a 12 month high of $138.22. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (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 fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared 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 3.18%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of the company’s 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 sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.