Bernard Wealth Management Corp. Invests $1.22 Million in DTE Energy (NYSE:DTE)

Bernard Wealth Management Corp. purchased a new stake in shares of DTE Energy (NYSE:DTE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,089 shares of the utilities provider's stock, valued at approximately $1,218,000. DTE Energy accounts for 0.6% of Bernard Wealth Management Corp.'s portfolio, making the stock its 29th biggest holding.

A number of other large investors have also made changes to their positions in DTE. Capital World Investors grew its position in DTE Energy by 123.2% during the fourth quarter. Capital World Investors now owns 6,823,231 shares of the utilities provider's stock valued at $823,905,000 after purchasing an additional 3,766,221 shares in the last quarter. Vanguard Group Inc. grew its position in DTE Energy by 3.6% during the fourth 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 in the last quarter. Balyasny Asset Management L.P. grew its position in DTE Energy by 1,794.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 920,569 shares of the utilities provider's stock valued at $111,159,000 after purchasing an additional 871,978 shares in the last quarter. AQR Capital Management LLC grew its position in DTE Energy by 750.0% during the fourth 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 in the last quarter. Finally, Invesco Ltd. grew its position in DTE Energy by 50.2% during the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock valued at $297,358,000 after purchasing an additional 822,854 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $2.10 during trading hours on Wednesday, hitting $135.02. 1,055,027 shares of the stock were exchanged, compared to its average volume of 1,248,071. The firm has a market capitalization of $28.02 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.41 and a beta of 0.47. DTE Energy has a one year low of $108.40 and a one year high of $140.39. The company's 50 day moving average is $134.76 and its 200 day moving average is $128.10. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46.

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

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, June 16th. DTE Energy's dividend payout ratio is 58.92%.

Analyst Ratings Changes

A number of brokerages recently commented on DTE. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Morgan Stanley decreased their target price on shares of DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on shares of DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Evercore ISI boosted their target price on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, DTE Energy has a consensus rating of "Moderate Buy" and an average price target of $140.93.

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.