Pinebridge Investments L.P. Reduces Stock Position in DTE Energy (NYSE:DTE)

Pinebridge Investments L.P. lessened its stake in DTE Energy (NYSE:DTE - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,988 shares of the utilities provider's stock after selling 41,873 shares during the quarter. Pinebridge Investments L.P. owned 0.11% of DTE Energy worth $26,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of DTE. Versant Capital Management Inc raised its position in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock worth $36,000 after purchasing an additional 267 shares during the last quarter. Robbins Farley purchased a new position in shares of DTE Energy in the 4th quarter worth about $57,000. Kestra Investment Management LLC purchased a new position in shares of DTE Energy in the 4th quarter worth about $57,000. AdvisorNet Financial Inc raised its position in shares of DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock worth $84,000 after purchasing an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of DTE Energy in the 4th quarter worth about $87,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Insiders Place Their Bets

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 in the last three months. 0.33% of the stock is owned by company insiders.

DTE Energy Stock Performance

Shares of NYSE:DTE traded up $1.19 during mid-day trading on Tuesday, reaching $136.88. 418,377 shares of the company traded hands, compared to its average volume of 1,195,834. The company's 50 day moving average price is $133.49 and its 200-day moving average price is $126.44. The firm has a market cap of $28.40 billion, a PE ratio of 20.22, a PEG ratio of 2.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. 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 announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, equities analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a dividend of $1.09 per share. The ex-dividend date was Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.19%. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DTE shares. Barclays lowered DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. BMO Capital Markets boosted their target price on DTE Energy from $135.00 to $142.00 and gave the stock a "market perform" rating in a research report on Monday, April 21st. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Morgan Stanley boosted their target price on DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Finally, Guggenheim boosted their target price on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $139.17.

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.