Avantax Advisory Services Inc. Purchases 2,211 Shares of DTE Energy (NYSE:DTE)

Avantax Advisory Services Inc. grew its position in shares of DTE Energy (NYSE:DTE) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,904 shares of the utilities provider’s stock after purchasing an additional 2,211 shares during the period. Avantax Advisory Services Inc.’s holdings in DTE Energy were worth $1,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy during the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in DTE Energy during the third quarter valued at approximately $35,000. Versant Capital Management Inc raised its stake in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 267 shares in the last quarter. Coastline Trust Co bought a new stake in shares of DTE Energy in the 3rd quarter worth approximately $39,000. Finally, Robbins Farley purchased a new stake in shares of DTE Energy in the 4th quarter valued at $57,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DTE has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. BMO Capital Markets increased their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.09.

Insider Buying and Selling at DTE Energy

In related news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 directly owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.61% of the stock is currently owned by company insiders.

DTE Energy Trading Up 0.3 %

NYSE:DTE opened at $135.60 on Tuesday. The company has a 50-day moving average price of $126.10 and a 200-day moving average price of $124.55. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a 12 month low of $103.06 and a 12 month high of $136.31.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Equities analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.22%. DTE Energy’s dividend payout ratio (DPR) is 64.40%.

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.