Ameriprise Financial Inc. lessened its position in shares of DTE Energy (NYSE:DTE - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,383,060 shares of the utilities provider's stock after selling 416,912 shares during the period. Ameriprise Financial Inc. owned approximately 2.60% of DTE Energy worth $649,959,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in DTE. Capital World Investors grew its stake in shares of DTE Energy by 123.2% in the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock valued at $823,905,000 after acquiring an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. boosted its holdings in DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock valued at $3,053,330,000 after purchasing an additional 879,670 shares during the period. AQR Capital Management LLC boosted its holdings in DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock valued at $116,482,000 after purchasing an additional 851,169 shares during the period. Invesco Ltd. grew its position in shares of DTE Energy by 50.2% during the 4th quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock worth $297,358,000 after purchasing an additional 822,854 shares in the last quarter. Finally, HITE Hedge Asset Management LLC increased its holdings in shares of DTE Energy by 196.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 964,919 shares of the utilities provider's stock worth $116,514,000 after purchasing an additional 639,659 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.
Analyst Ratings Changes
Several brokerages recently issued reports on DTE. StockNews.com upgraded DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Guggenheim upped their target price on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Evercore ISI raised their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price target on DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley increased their price objective 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 nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.31.
Read Our Latest Research Report on DTE
DTE Energy Price Performance
Shares of NYSE DTE traded up $0.27 during midday trading on Friday, reaching $135.98. 913,013 shares of the company were exchanged, compared to its average volume of 1,214,335. The stock's 50-day moving average price is $134.22 and its 200-day moving average price is $126.99. The stock has a market cap of $28.22 billion, a P/E ratio of 20.09, a PEG ratio of 2.41 and a beta of 0.47. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a one year low of $108.40 and a one year high of $140.39.
DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $1.67 EPS. On average, sell-side analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.
DTE Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy's payout ratio is 58.92%.
Insider Buying and Selling at DTE Energy
In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company's stock, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is currently owned by company insiders.
About DTE Energy
(
Free Report)
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.
Featured Articles
Before you consider DTE Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DTE Energy wasn't on the list.
While DTE Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
