MGO One Seven LLC Acquires Shares of 2,798 DTE Energy (NYSE:DTE)

MGO One Seven LLC bought a new stake in DTE Energy (NYSE:DTE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,798 shares of the utilities provider's stock, valued at approximately $338,000.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Robbins Farley acquired a new position in DTE Energy during the fourth quarter worth approximately $57,000. Kestra Investment Management LLC bought a new position in shares of DTE Energy during the 4th quarter worth approximately $57,000. AdvisorNet Financial Inc lifted its holdings in DTE Energy by 81.5% during the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock valued at $84,000 after purchasing an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of DTE Energy in the fourth quarter valued at $87,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Stock Up 0.4 %

Shares of DTE stock traded up $0.51 during mid-day trading on Friday, reaching $136.35. 709,895 shares of the company's stock traded hands, compared to its average volume of 1,208,269. The company has a market cap of $28.29 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.41 and a beta of 0.49. DTE Energy has a 12 month low of $108.40 and a 12 month high of $140.39. 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's 50-day moving average price is $133.77 and its 200-day moving average price is $126.65.

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

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, March 17th. DTE Energy's payout ratio is 64.40%.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the firm's stock in a transaction on 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 transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joann Chavez sold 7,062 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 14,067 shares of the company's stock, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DTE. BMO Capital Markets increased their price target on shares of DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a report on Monday, April 21st. Guggenheim lifted their price target on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Wells Fargo & Company lifted 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. Evercore ISI boosted their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Morgan Stanley lifted their target price on DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.31.

About DTE Energy

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.