Balyasny Asset Management L.P. Buys 871,978 Shares of DTE Energy (NYSE:DTE)

Balyasny Asset Management L.P. lifted its holdings in DTE Energy (NYSE:DTE - Free Report) by 1,794.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 920,569 shares of the utilities provider's stock after purchasing an additional 871,978 shares during the quarter. Balyasny Asset Management L.P. owned about 0.44% of DTE Energy worth $111,159,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Versant Capital Management Inc lifted its position 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 acquiring an additional 267 shares in the last quarter. Robbins Farley bought a new position in shares of DTE Energy during the fourth quarter worth about $57,000. Kestra Investment Management LLC bought a new stake in DTE Energy in the 4th quarter valued at approximately $57,000. AdvisorNet Financial Inc lifted its stake in DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock valued at $84,000 after acquiring an additional 313 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of DTE Energy during the 4th quarter worth approximately $87,000. 76.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DTE has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. BMO Capital Markets lifted their target price on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Guggenheim raised their price target on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Evercore ISI boosted 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. Finally, Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average target price of $140.31.

DTE Energy Stock Performance

Shares of NYSE DTE traded up $1.11 during mid-day trading on Wednesday, reaching $138.77. 1,197,554 shares of the company were exchanged, compared to its average volume of 1,214,006. The stock has a market capitalization of $28.80 billion, a P/E ratio of 20.50, a P/E/G 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. The company's 50-day simple moving average is $134.03 and its 200-day simple moving average is $126.82. DTE Energy has a twelve month low of $108.40 and a twelve month high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.12. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $1.67 EPS. As a group, research analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a dividend of $1.09 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.14%. DTE Energy's payout ratio is 58.92%.

Insider Transactions at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.33% 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.