Gilliland Jeter Wealth Management LLC Buys New Position in DTE Energy (NYSE:DTE)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of DTE Energy (NYSE:DTE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,425 shares of the utilities provider's stock, valued at approximately $2,473,000. DTE Energy comprises 1.0% of Gilliland Jeter Wealth Management LLC's investment portfolio, making the stock its 26th largest holding.

Several other hedge funds have also modified their holdings of the stock. Ameriprise Financial Inc. lifted its stake in DTE Energy by 16.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider's stock worth $509,081,000 after acquiring an additional 724,561 shares in the last quarter. Invesco Ltd. lifted its stake in DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider's stock worth $221,314,000 after acquiring an additional 137,960 shares in the last quarter. Northern Trust Corp lifted its stake in DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider's stock worth $190,937,000 after acquiring an additional 27,891 shares in the last quarter. California Public Employees Retirement System lifted its stake in DTE Energy by 0.8% in the 4th quarter. California Public Employees Retirement System now owns 1,242,920 shares of the utilities provider's stock worth $137,044,000 after acquiring an additional 9,944 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in DTE Energy by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,180,851 shares of the utilities provider's stock worth $117,235,000 after acquiring an additional 8,783 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

DTE Energy Stock Down 1.5 %

Shares of NYSE DTE traded down $1.62 during mid-day trading on Friday, reaching $109.52. 1,247,739 shares of the company traded hands, compared to its average volume of 1,158,886. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60. The stock has a market cap of $22.66 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64. The company's fifty day moving average is $109.15 and its two-hundred day moving average is $106.27. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts' consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a net margin of 10.36% and a return on equity of 11.63%. On average, analysts expect that DTE Energy will post 6.69 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, March 15th. DTE Energy's dividend payout ratio is 66.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DTE shares. JPMorgan Chase & Co. increased their price objective on DTE Energy from $118.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 13th. Barclays raised their price target on DTE Energy from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Guggenheim downgraded DTE Energy from a "buy" rating to a "neutral" rating and set a $111.00 price target for the company. in a research note on Monday, January 22nd. KeyCorp raised their price target on DTE Energy from $106.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, January 4th. Finally, Wolfe Research downgraded DTE Energy from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $115.10.

Insider Buying and Selling at DTE Energy

In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the sale, the chief operating officer now owns 26,118 shares of the company's stock, valued at approximately $2,801,155.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the sale, the chief accounting officer now owns 3,462 shares of the company's stock, valued at approximately $370,572.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert A. Richard sold 4,800 shares of DTE Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the sale, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. Insiders have sold 20,095 shares of company stock valued at $2,168,183 in the last 90 days. 0.61% of the stock is currently owned by insiders.

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.