Victory Capital Management Inc. Has $47.14 Million Stock Position in DTE Energy (NYSE:DTE)

Victory Capital Management Inc. lessened its stake in shares of DTE Energy (NYSE:DTE) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 390,419 shares of the utilities provider’s stock after selling 15,886 shares during the period. Victory Capital Management Inc.’s holdings in DTE Energy were worth $47,143,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of DTE Energy during the third quarter valued at about $35,000. Prospera Private Wealth LLC bought a new stake in shares of DTE Energy during the third quarter worth about $35,000. Versant Capital Management Inc grew its holdings in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Finally, Coastline Trust Co bought a new position in DTE Energy in the 3rd quarter valued at approximately $39,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Performance

Shares of DTE Energy stock opened at $131.46 on Friday. The business has a 50-day simple moving average of $124.61 and a 200 day simple moving average of $124.16. The firm has a market capitalization of $27.24 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.41 and a beta of 0.59. 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 $136.28.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, research analysts anticipate 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 paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

Insider Activity

In related news, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction 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. The trade was a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated 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 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 11,877 shares of company stock worth $1,559,205 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price objective on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

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.