Waverly Advisors LLC Purchases New Shares in DTE Energy (NYSE:DTE)

Waverly Advisors LLC bought a new position in DTE Energy (NYSE:DTE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,193 shares of the utilities provider's stock, valued at approximately $3,525,000.

Several other hedge funds also recently bought and sold shares of the company. SkyOak Wealth LLC increased its position in DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider's stock worth $262,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in DTE Energy by 8.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider's stock worth $146,000 after purchasing an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of DTE Energy by 4.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider's stock worth $258,000 after acquiring an additional 92 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of DTE Energy by 2.3% during the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider's stock worth $525,000 after acquiring an additional 96 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of DTE Energy by 1.4% during the 4th quarter. Fifth Third Bancorp now owns 7,441 shares of the utilities provider's stock worth $899,000 after acquiring an additional 103 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Performance

DTE Energy stock traded up $1.79 during trading hours on Friday, hitting $136.41. The stock had a trading volume of 1,069,005 shares, compared to its average volume of 1,249,378. The company has a 50-day moving average of $134.80 and a two-hundred day moving average of $127.74. 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 has a market cap of $28.31 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. DTE Energy has a fifty-two week low of $108.40 and a fifty-two week high of $140.39.

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

DTE Energy Dividend Announcement

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 issued a $1.09 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.36 annualized dividend and a yield of 3.20%. DTE Energy's dividend payout ratio (DPR) is 58.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Guggenheim upped their price target on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Evercore ISI upped their price target on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. BMO Capital Markets upped their price target on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research note on Monday, April 21st. Wells Fargo & Company upped their price target on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley decreased their price target on DTE Energy from $136.00 to $134.00 and set an "overweight" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.93.

Insider Buying and Selling at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company's stock.

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.