State of Tennessee Department of Treasury Increases Stock Holdings in DTE Energy (NYSE:DTE)

State of Tennessee Department of Treasury boosted its holdings in DTE Energy (NYSE:DTE - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,985 shares of the utilities provider's stock after buying an additional 15,473 shares during the quarter. State of Tennessee Department of Treasury's holdings in DTE Energy were worth $8,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Robbins Farley purchased a new stake in DTE Energy during the fourth quarter valued at approximately $57,000. Kestra Investment Management LLC bought a new position in DTE Energy in the fourth quarter worth approximately $57,000. AdvisorNet Financial Inc boosted its stake in shares of DTE Energy by 81.5% during the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock worth $84,000 after acquiring an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of DTE Energy during the 4th quarter valued at $87,000. Institutional investors own 76.06% of the company's stock.

DTE Energy Stock Performance

DTE Energy stock traded down $1.03 during trading hours on Wednesday, hitting $135.73. 168,996 shares of the stock traded hands, compared to its average volume of 1,386,452. The firm's 50 day moving average price is $133.60 and its 200-day moving average price is $126.51. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.41 and a beta of 0.49. DTE Energy has a 1 year low of $108.40 and a 1 year high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. As a group, 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. Shareholders of record on Monday, March 17th were paid a dividend of $1.09 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.21%. DTE Energy's payout ratio is currently 64.40%.

Insider Transactions at DTE Energy

In other DTE Energy news, 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 sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joann Chavez sold 7,062 shares of the firm'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 transaction of $935,008.80. Following the sale, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DTE shares. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Morgan Stanley upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Guggenheim upped their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, BMO Capital Markets lifted their target price on DTE Energy from $135.00 to $142.00 and gave the company a "market perform" rating in a research report on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $139.17.

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.