DTE Energy (NYSE:DTE) Shares Acquired by Morton Community Bank

Morton Community Bank raised its position in DTE Energy (NYSE:DTE) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,436 shares of the utilities provider’s stock after buying an additional 415 shares during the period. Morton Community Bank’s holdings in DTE Energy were worth $3,434,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tortoise Investment Management LLC raised its holdings in DTE Energy by 39.8% in the fourth quarter. Tortoise Investment Management LLC now owns 1,026 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 292 shares in the last quarter. Independent Advisor Alliance raised its position in shares of DTE Energy by 6.5% during the 4th quarter. Independent Advisor Alliance now owns 8,934 shares of the utilities provider’s stock worth $1,079,000 after purchasing an additional 542 shares during the period. Paragon Private Wealth Management LLC increased its position in DTE Energy by 12.6% in the fourth quarter. Paragon Private Wealth Management LLC now owns 3,213 shares of the utilities provider’s stock worth $388,000 after buying an additional 360 shares during the period. Daiwa Securities Group Inc. increased its position in DTE Energy by 6.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 31,119 shares of the utilities provider’s stock valued at $3,758,000 after acquiring an additional 1,870 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in DTE Energy by 6.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,173 shares of the utilities provider’s stock valued at $8,232,000 after buying an additional 4,049 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $131.46 on Monday. DTE Energy has a 1-year low of $103.06 and a 1-year high of $136.28. The firm has a fifty day simple moving average of $124.61 and a 200-day simple moving average of $124.17. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $27.24 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, March 17th. DTE Energy’s payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Morgan Stanley reduced their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.67.

Insider Buying and Selling

In related news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 over the last three months. 0.61% of the stock is 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.