3,238 Shares in DTE Energy (NYSE:DTE) Bought by Straightline Group LLC

Straightline Group LLC bought a new stake in shares of DTE Energy (NYSE:DTE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,238 shares of the utilities provider’s stock, valued at approximately $391,000. DTE Energy comprises about 0.3% of Straightline Group LLC’s investment portfolio, making the stock its 25th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Applied Finance Capital Management LLC raised its position in shares of DTE Energy by 1.1% during the 4th quarter. Applied Finance Capital Management LLC now owns 174,285 shares of the utilities provider’s stock worth $21,045,000 after purchasing an additional 1,843 shares during the period. Greenland Capital Management LP bought a new position in DTE Energy during the 4th quarter worth $12,687,000. Bernard Wealth Management Corp. acquired a new stake in DTE Energy in the fourth quarter worth $924,000. Bank of Nova Scotia lifted its stake in DTE Energy by 1.6% in the fourth quarter. Bank of Nova Scotia now owns 74,636 shares of the utilities provider’s stock valued at $9,012,000 after buying an additional 1,148 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of DTE Energy by 50.2% during the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider’s stock valued at $297,358,000 after acquiring an additional 822,854 shares during the period. 76.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock valued at $1,559,205 over the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DTE. Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, Guggenheim lifted their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Stock Down 3.0 %

Shares of NYSE:DTE opened at $127.91 on Tuesday. The firm has a 50 day simple moving average of $130.56 and a 200 day simple moving average of $125.70. DTE Energy has a 52 week low of $103.06 and a 52 week high of $140.39. 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 company has a market cap of $26.54 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE) last released its 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%. As a group, research analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.41%. DTE Energy’s dividend payout ratio is 64.40%.

DTE Energy Company 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.