Vanguard Group Inc. Increases Stock Position in DTE Energy (NYSE:DTE)

Vanguard Group Inc. raised its position in DTE Energy (NYSE:DTE) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,286,380 shares of the utilities provider’s stock after acquiring an additional 879,670 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of DTE Energy worth $3,053,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTE. Legacy Investment Solutions LLC purchased a new position in DTE Energy during the 3rd quarter valued at about $30,000. Versant Capital Management Inc increased its position in DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the period. Robbins Farley purchased a new stake in shares of DTE Energy in the 4th quarter worth about $57,000. Kestra Investment Management LLC bought a new stake in shares of DTE Energy during the 4th quarter valued at about $57,000. Finally, Brooklyn Investment Group purchased a new position in shares of DTE Energy during the third quarter valued at about $83,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Trading Down 1.2 %

Shares of NYSE:DTE opened at $134.49 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.22. The company has a market cap of $27.91 billion, a P/E ratio of 19.87, a PEG ratio of 2.41 and a beta of 0.59. The stock’s fifty day moving average price is $128.04 and its 200-day moving average price is $125.03.

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, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.24%. DTE Energy’s payout ratio is 64.40%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Guggenheim boosted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a report on Friday, March 21st. UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, Morgan Stanley upped their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, DTE Energy currently has an average rating of “Moderate Buy” and an average price target of $138.58.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy 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 trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now owns 14,067 shares of the company’s stock, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 in the last ninety days. Insiders own 0.61% of the company’s stock.

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.