DTE Energy (NYSE:DTE) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of DTE Energy (NYSE:DTE) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,036 shares of the utilities provider’s stock after selling 2,363 shares during the period. Corebridge Financial Inc.’s holdings in DTE Energy were worth $5,921,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Allworth Financial LP boosted its position in DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 336 shares during the period. Jones Financial Companies Lllp grew its stake in shares of DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after buying an additional 2,642 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of 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 lifted its position in DTE Energy by 7.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock worth $5,667,000 after acquiring an additional 3,306 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in DTE Energy by 4.4% in the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock worth $1,139,000 after acquiring an additional 395 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the business’s stock in a transaction 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 owns 14,067 shares of the company’s stock, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on DTE. Morgan Stanley lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. BMO Capital Markets lifted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. KeyCorp lowered DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. Finally, UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, DTE Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.58.

DTE Energy Price Performance

Shares of DTE opened at $136.47 on Friday. 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 firm has a market cap of $28.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.41 and a beta of 0.59. DTE Energy has a 52 week low of $103.06 and a 52 week high of $138.22. The stock has a 50 day moving average of $128.84 and a 200-day moving average of $125.25.

DTE Energy (NYSE:DTE) last released its earnings results 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 net margin of 11.27% and a return on equity of 12.42%. As a group, analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid 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 3.19%. DTE Energy’s payout ratio is currently 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.