Wexford Capital LP Makes New Investment in DTE Energy (NYSE:DTE)

Wexford Capital LP bought a new stake in shares of DTE Energy (NYSE:DTE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 57,321 shares of the utilities provider's stock, valued at approximately $6,922,000. DTE Energy comprises 1.1% of Wexford Capital LP's investment portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP lifted its position in shares of DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock valued at $293,000 after acquiring an additional 336 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock valued at $760,000 after acquiring an additional 2,642 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of DTE Energy by 39.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after acquiring an additional 1,618 shares in the last quarter. Patton Albertson Miller Group LLC lifted its position in shares of DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider's stock valued at $5,667,000 after acquiring an additional 3,306 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of DTE Energy by 4.4% in the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock valued at $1,139,000 after acquiring an additional 395 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Stock Down 1.1%

Shares of DTE Energy stock traded down $1.44 during midday trading on Thursday, reaching $134.67. 2,046,314 shares of the company's stock traded hands, compared to its average volume of 1,245,685. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. The company's 50 day simple moving average is $134.80 and its 200 day simple moving average is $127.56. 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 has a 52 week low of $108.40 and a 52 week high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the business posted $1.67 EPS. Equities analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $1.09 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.24%. DTE Energy's payout ratio is presently 58.92%.

Wall Street Analyst Weigh In

DTE has been the subject of several research analyst reports. Guggenheim upped their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Wells Fargo & Company increased 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. Wall Street Zen downgraded shares of DTE Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Morgan Stanley cut 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. Finally, Evercore ISI increased 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.15.

Insider Activity at DTE Energy

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the firm's 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 sale, the senior vice president now directly 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 document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.