By otakuyassine3@gmail.com 
Allworth Financial LP raised its position in shares of DTE Energy (NYSE:DTE – Free Report) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,438 shares of the utilities provider’s stock after purchasing an additional 336 shares during the quarter. Allworth Financial LP’s holdings in DTE Energy were worth $293,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DTE. Sequoia Financial Advisors LLC boosted its stake in DTE Energy by 21.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 15,719 shares of the utilities provider’s stock valued at $2,018,000 after purchasing an additional 2,726 shares in the last quarter. Signaturefd LLC boosted its stake in DTE Energy by 3.1% during the 3rd quarter. Signaturefd LLC now owns 2,889 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 86 shares in the last quarter. Eastern Bank bought a new position in DTE Energy during the 3rd quarter valued at $175,000. Hennion & Walsh Asset Management Inc. boosted its stake in DTE Energy by 25.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,903 shares of the utilities provider’s stock valued at $1,657,000 after purchasing an additional 2,624 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in DTE Energy by 2.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,550 shares of the utilities provider’s stock valued at $841,000 after purchasing an additional 143 shares in the last quarter. 76.06% of the stock is owned by institutional investors.
DTE Energy Price Performance
Shares of NYSE:DTE opened at $131.98 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. DTE Energy has a 1 year low of $103.06 and a 1 year high of $132.88. The business has a fifty day simple moving average of $122.15 and a 200 day simple moving average of $123.36. The firm has a market cap of $27.35 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.40 and a beta of 0.68.
DTE Energy (NYSE:DTE – Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.30%. DTE Energy’s dividend payout ratio is 64.40%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on DTE shares. Wells Fargo & Company raised their price objective on DTE Energy from $133.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets raised their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday. Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.67.
Read Our Latest Research Report on DTE
Insider Buying and Selling
In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’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 transaction, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.
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.
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