Vanguard Group Inc. Raises Position in DTE Energy (NYSE:DTE)

Vanguard Group Inc. increased its stake in shares of DTE Energy (NYSE:DTE) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,286,380 shares of the utilities provider’s stock after buying an additional 879,670 shares during the quarter. Vanguard Group Inc. owned 12.21% of DTE Energy worth $3,053,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy during the 3rd quarter worth approximately $30,000. Versant Capital Management Inc grew 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 purchasing an additional 267 shares during the period. Robbins Farley bought a new position in DTE Energy in the 4th quarter valued at $57,000. Kestra Investment Management LLC purchased a new stake in shares of DTE Energy during the 4th quarter valued at $57,000. Finally, Brooklyn Investment Group bought a new stake in shares of DTE Energy during the 3rd quarter worth $83,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DTE. Scotiabank raised their price objective 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. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley increased their price target on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.58.

DTE Energy Trading Down 1.2 %

DTE Energy stock opened at $134.49 on Wednesday. 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 $138.22. The stock has a market cap of $27.91 billion, a P/E ratio of 19.87, a PEG ratio of 2.41 and a beta of 0.59. The firm’s fifty day moving average price is $128.04 and its 200-day moving average price is $125.03.

DTE Energy (NYSE:DTE) last issued 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%. Equities research analysts forecast that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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 3.24%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Buying and Selling

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % 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 company’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 $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. Corporate insiders own 0.61% of the company’s stock.

DTE Energy 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.