The Manufacturers Life Insurance Company Purchases 106,348 Shares of DTE Energy (NYSE:DTE)

The Manufacturers Life Insurance Company raised its position in DTE Energy (NYSE:DTE - Free Report) by 27.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 498,315 shares of the utilities provider's stock after acquiring an additional 106,348 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.24% of DTE Energy worth $60,172,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its stake in DTE Energy by 11.9% during the 3rd quarter. Barclays PLC now owns 755,084 shares of the utilities provider's stock valued at $96,961,000 after purchasing an additional 80,543 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of DTE Energy during the third quarter worth about $269,000. Arvest Bank Trust Division bought a new stake in shares of DTE Energy during the third quarter worth about $10,338,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of DTE Energy in the 3rd quarter worth about $155,000. Finally, Tidal Investments LLC lifted its position in DTE Energy by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock valued at $320,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 76.06% of the company's stock.

Insider Buying and Selling

In other news, COO Matthew T. Paul sold 3,801 shares of DTE Energy 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 transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the 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 sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DTE has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday. Barclays lowered DTE Energy from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Guggenheim lifted their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Morgan Stanley upped their target price 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. Finally, Evercore ISI boosted their price target on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and an average price target of $140.31.

DTE Energy Stock Performance

DTE traded up $0.32 during midday trading on Monday, reaching $136.68. The company had a trading volume of 217,471 shares, compared to its average volume of 1,207,011. DTE Energy has a 12-month low of $108.40 and a 12-month high of $140.39. The business has a 50-day moving average price of $133.83 and a two-hundred day moving average price of $126.69. The stock has a market cap of $28.36 billion, a PE ratio of 20.20, a P/E/G ratio of 2.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 EPS 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 business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. On average, sell-side analysts expect 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 was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is currently 64.40%.

DTE Energy 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.