2,903 Shares in DTE Energy (NYSE:DTE) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new stake in DTE Energy (NYSE:DTE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,903 shares of the utilities provider’s stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Allworth Financial LP lifted 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 acquiring an additional 336 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of DTE Energy by 72.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 2,642 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares during the period. Orion Portfolio Solutions LLC grew its holdings in DTE Energy by 39.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 1,618 shares in the last quarter. Finally, Patton Albertson Miller Group LLC increased its stake 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 buying an additional 3,306 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

DTE Energy Price Performance

DTE opened at $133.00 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The company’s 50-day moving average price is $132.10 and its 200 day moving average price is $125.93. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $140.39. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side 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 was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were paid a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.28%. The ex-dividend date was Monday, March 17th. DTE Energy’s payout ratio is currently 64.40%.

Insiders Place Their Bets

In other news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley raised their price objective on 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 increased their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Guggenheim raised their price target on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded shares of DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.58.

DTE Energy 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.