Daiwa Securities Group Inc. Increases Stake in DTE Energy (NYSE:DTE)

Daiwa Securities Group Inc. grew its stake in DTE Energy (NYSE:DTE) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,119 shares of the utilities provider’s stock after buying an additional 1,870 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DTE Energy were worth $3,758,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP grew its stake in shares of DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after buying an additional 336 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of DTE Energy by 72.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 2,642 shares during the last quarter. Nordea Investment Management AB raised its holdings in DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after buying an additional 211,763 shares during the period. Patton Albertson Miller Group LLC increased its position in DTE Energy by 7.6% during the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after acquiring an additional 3,306 shares during the last quarter. Finally, Hancock Whitney Corp grew its holdings in DTE Energy by 80.0% during the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after purchasing an additional 5,725 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

DTE Energy Stock Up 1.1 %

NYSE DTE opened at $132.74 on Friday. DTE Energy has a one year low of $103.06 and a one year high of $136.28. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The business has a fifty day moving average price of $125.50 and a 200 day moving average price of $124.39. The company has a market cap of $27.51 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results 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%. Research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal 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 dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.28%. DTE Energy’s dividend payout ratio is currently 64.40%.

Insider Buying and Selling at DTE Energy

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 transaction of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This represents 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 valued at $1,559,205 over the last 90 days. 0.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTE. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley decreased their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays lowered shares of DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.09.

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.