Picton Mahoney Asset Management Buys Shares of 31,177 DTE Energy (NYSE:DTE)

Picton Mahoney Asset Management purchased a new stake in shares of DTE Energy (NYSE:DTE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,177 shares of the utilities provider's stock, valued at approximately $3,439,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DTE. Balanced Wealth Group LLC bought a new stake in DTE Energy during the fourth quarter valued at approximately $329,000. Peddock Capital Advisors LLC increased its stake in shares of DTE Energy by 5.2% in the 4th quarter. Peddock Capital Advisors LLC now owns 9,103 shares of the utilities provider's stock worth $1,004,000 after purchasing an additional 453 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of DTE Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,208,462 shares of the utilities provider's stock worth $133,245,000 after purchasing an additional 27,611 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in DTE Energy during the fourth quarter valued at $273,000. Finally, Private Advisor Group LLC grew its holdings in DTE Energy by 26.1% during the fourth quarter. Private Advisor Group LLC now owns 11,486 shares of the utilities provider's stock valued at $1,266,000 after purchasing an additional 2,380 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

NYSE:DTE traded up $1.39 during midday trading on Wednesday, hitting $114.73. The company's stock had a trading volume of 905,521 shares, compared to its average volume of 1,176,321. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. The firm's 50 day moving average is $109.74 and its 200-day moving average is $106.98. DTE Energy has a fifty-two week low of $90.14 and a fifty-two week high of $116.73. The firm has a market cap of $23.74 billion, a P/E ratio of 18.78, a P/E/G ratio of 2.81 and a beta of 0.64.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.04). The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. Equities analysts anticipate that DTE Energy will post 6.69 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.08 dividend on an annualized basis and a yield of 3.56%. DTE Energy's payout ratio is presently 66.78%.

Insider Activity at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 600 shares of the business's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Matthew T. Paul sold 5,850 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.92, for a total transaction of $625,482.00. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $743,200.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 600 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total value of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares in the company, valued at approximately $370,572.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,095 shares of company stock valued at $2,168,183. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

DTE has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of DTE Energy from $111.00 to $113.00 and gave the company a "market perform" rating in a report on Wednesday, April 17th. Guggenheim lowered DTE Energy from a "buy" rating to a "neutral" rating and set a $111.00 price objective for the company. in a research note on Monday, January 22nd. Scotiabank decreased their target price on DTE Energy from $129.00 to $120.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 22nd. Morgan Stanley boosted their price target on DTE Energy from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their target price on DTE Energy from $118.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $115.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.