Neuberger Berman Group LLC Reduces Holdings in DTE Energy (NYSE:DTE)

Neuberger Berman Group LLC lessened its position in DTE Energy (NYSE:DTE) by 54.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,163,197 shares of the utilities provider’s stock after selling 1,367,039 shares during the quarter. Neuberger Berman Group LLC’s holdings in DTE Energy were worth $140,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of 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 buying an additional 336 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 2,642 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of DTE Energy by 2,235.2% in the 4th 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 last quarter. Patton Albertson Miller Group LLC raised its stake in DTE Energy by 7.6% during 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 acquiring an additional 3,306 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of DTE Energy by 39.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock worth $693,000 after buying an additional 1,618 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE Energy stock opened at $130.33 on Thursday. The business has a 50 day simple moving average of $131.35 and a 200 day simple moving average of $125.79. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a one year low of $103.06 and a one year high of $140.39. The company has a market capitalization of $27.05 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE) last posted its 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, sell-side analysts forecast that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.35%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Insider Activity at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated 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 $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. 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 90 days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

DTE has been the subject of a number of research reports. Barclays cut 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 research report on Thursday, February 20th. Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Morgan Stanley boosted their target price on shares of 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

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.