BNP Paribas Financial Markets Increases Stock Position in DTE Energy (NYSE:DTE)

BNP Paribas Financial Markets grew its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 60.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 382,778 shares of the utilities provider's stock after purchasing an additional 144,780 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.18% of DTE Energy worth $46,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DTE. Aptus Capital Advisors LLC raised its position in DTE Energy by 10.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 2,923 shares of the utilities provider's stock valued at $355,000 after purchasing an additional 266 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its stake in DTE Energy by 19.0% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 3,330 shares of the utilities provider's stock worth $402,000 after acquiring an additional 532 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in DTE Energy by 38.9% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 5,467 shares of the utilities provider's stock valued at $660,000 after acquiring an additional 1,530 shares in the last quarter. Comerica Bank raised its holdings in DTE Energy by 4.1% in the 4th quarter. Comerica Bank now owns 68,430 shares of the utilities provider's stock worth $8,263,000 after purchasing an additional 2,703 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of DTE Energy by 750.0% in the 4th quarter. AQR Capital Management LLC now owns 964,655 shares of the utilities provider's stock worth $116,482,000 after purchasing an additional 851,169 shares during the period. Institutional investors own 76.06% of the company's stock.

Insider Activity

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock valued at $1,559,205 in the last quarter. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DTE has been the subject of a number of research reports. Guggenheim increased their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Barclays cut DTE Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley increased their price objective on DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Evercore ISI increased their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to 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 DTE Energy stock traded up $0.27 during trading on Friday, hitting $135.98. 913,013 shares of the company's stock traded hands, compared to its average volume of 1,214,335. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39. The business has a 50-day simple moving average of $134.22 and a 200-day simple moving average of $126.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The stock has a market capitalization of $28.22 billion, a P/E ratio of 20.09, a PEG ratio of 2.41 and a beta of 0.47.

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 net margin of 11.27% and a return on equity of 12.42%. The firm had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the previous year, the company earned $1.67 earnings per share. As a group, analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.21%. DTE Energy's dividend payout ratio is currently 58.92%.

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.