Midwest Capital Advisors LLC Purchases Shares of 2,467 DTE Energy (NYSE:DTE)

Midwest Capital Advisors LLC purchased a new stake in shares of DTE Energy (NYSE:DTE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,467 shares of the utilities provider’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Securities USA LLC grew its stake in shares of DTE Energy by 44,009.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,039,000 shares of the utilities provider’s stock worth $903,878,000 after acquiring an additional 7,023,042 shares in the last quarter. State Street Corp grew its stake in shares of DTE Energy by 7.0% in the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock worth $1,319,264,000 after acquiring an additional 662,569 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of DTE Energy in the 3rd quarter worth $69,894,000. Point72 Asset Management L.P. bought a new stake in shares of DTE Energy in the 3rd quarter worth $66,733,000. Finally, Nordea Investment Management AB grew its stake in shares of DTE Energy by 2,235.2% in the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after acquiring an additional 211,763 shares in the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Price Performance

NYSE DTE opened at $131.98 on Monday. DTE Energy has a 52 week low of $103.06 and a 52 week high of $132.88. The company has a market cap of $27.35 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The firm’s 50-day simple moving average is $122.15 and its two-hundred day simple moving average is $123.41.

DTE Energy (NYSE:DTE) last announced 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%. Research analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s payout ratio is 64.40%.

Analyst Upgrades and Downgrades

DTE has been the subject of several recent analyst reports. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $137.00 to $135.00 in a research note on Thursday. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. BMO Capital Markets boosted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, KeyCorp downgraded shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, DTE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

Insider Buying and Selling

In related news, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

DTE Energy 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.