Farther Finance Advisors LLC Trims Stock Position in DTE Energy (NYSE:DTE)

Farther Finance Advisors LLC cut its stake in DTE Energy (NYSE:DTE) by 22.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,798 shares of the utilities provider’s stock after selling 790 shares during the period. Farther Finance Advisors LLC’s holdings in DTE Energy were worth $338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SkyOak Wealth LLC raised its holdings in shares of DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after buying an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock valued at $146,000 after buying an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after buying an additional 92 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after buying an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of DTE Energy by 2.3% in the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after buying an additional 96 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DTE shares. KeyCorp cut shares of DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Guggenheim raised shares of DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. StockNews.com raised shares of DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays cut shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.09.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the 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 completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is owned by company insiders.

DTE Energy Trading Up 0.3 %

Shares of DTE opened at $135.60 on Tuesday. 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’s 50-day moving average is $126.10 and its two-hundred day moving average is $124.55. DTE Energy has a twelve month low of $103.06 and a twelve month high of $136.31. The firm has a market capitalization of $28.10 billion, a P/E ratio of 20.03, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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%. On average, research analysts predict that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

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 given a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.22%. DTE Energy’s payout ratio is currently 64.40%.

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.