National Bank of Canada FI Cuts Stock Position in DTE Energy (NYSE:DTE)

National Bank of Canada FI cut its position in shares of DTE Energy (NYSE:DTE - Free Report) by 73.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,261 shares of the utilities provider's stock after selling 268,579 shares during the quarter. National Bank of Canada FI's holdings in DTE Energy were worth $10,615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in DTE Energy by 16.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider's stock worth $509,081,000 after purchasing an additional 724,561 shares in the last quarter. Invesco Ltd. grew its holdings in shares of DTE Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider's stock valued at $221,314,000 after acquiring an additional 137,960 shares in the last quarter. Northern Trust Corp increased its stake in shares of DTE Energy by 1.5% in the third 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 during the last quarter. California Public Employees Retirement System raised its holdings in shares of DTE Energy by 0.8% during the fourth 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. boosted its position in DTE Energy by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,180,851 shares of the utilities provider's stock valued at $117,235,000 after purchasing an additional 8,783 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on DTE shares. Morgan Stanley upped their target price on DTE Energy from $108.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Wolfe Research downgraded shares of DTE Energy from an "outperform" rating to a "peer perform" rating in a report on Tuesday, January 16th. Barclays lifted their target price on shares of DTE Energy from $115.00 to $119.00 and gave the stock an "overweight" rating in a report on Tuesday, April 30th. Scotiabank decreased their price target on shares of DTE Energy from $129.00 to $120.00 and set a "sector outperform" rating for the company in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.

DTE Energy Stock Performance

Shares of DTE stock traded up $1.59 during mid-day trading on Thursday, reaching $116.32. The stock had a trading volume of 1,461,276 shares, compared to its average volume of 1,180,108. The firm has a market cap of $24.07 billion, a PE ratio of 19.04, a P/E/G ratio of 2.81 and a beta of 0.64. The company has a quick ratio of 0.54, a current ratio of 0.75 and a debt-to-equity ratio of 1.72. DTE Energy has a one year low of $90.14 and a one year high of $116.73. The firm's 50 day simple moving average is $109.87 and its 200 day simple moving average is $107.04.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing analysts' consensus estimates of $1.71 by ($0.04). The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. On average, analysts forecast that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, June 17th. DTE Energy's dividend payout ratio is 66.78%.

Insider Buying and Selling at DTE Energy

In related news, SVP Joann Chavez sold 6,070 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total transaction of $662,783.30. Following the completion of the sale, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Lisa A. Muschong sold 2,775 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total value of $300,893.25. Following the completion of the sale, the vice president now directly owns 5,469 shares in the company, valued at $593,003.67. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joann Chavez sold 6,070 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $109.19, for a total transaction of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,095 shares of company stock valued at $2,168,183. 0.61% of the stock is currently owned by corporate 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.