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Allworth Financial LP increased its position in shares of DTE Energy (NYSE:DTE – Free Report) by 16.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,438 shares of the utilities provider’s stock after purchasing an additional 336 shares during the quarter. Allworth Financial LP’s holdings in DTE Energy were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. grew its position in DTE Energy by 25.3% during the fourth quarter. Principal Securities Inc. now owns 2,236 shares of the utilities provider’s stock worth $270,000 after buying an additional 452 shares in the last quarter. WASHINGTON TRUST Co grew its position in DTE Energy by 60.0% during the fourth quarter. WASHINGTON TRUST Co now owns 800 shares of the utilities provider’s stock worth $97,000 after buying an additional 300 shares in the last quarter. New York State Teachers Retirement System grew its position in DTE Energy by 0.6% during the fourth quarter. New York State Teachers Retirement System now owns 201,714 shares of the utilities provider’s stock worth $24,357,000 after buying an additional 1,179 shares in the last quarter. Retirement Guys Formula LLC boosted its holdings in DTE Energy by 8.7% during the fourth quarter. Retirement Guys Formula LLC now owns 9,560 shares of the utilities provider’s stock valued at $1,154,000 after purchasing an additional 762 shares in the last quarter. Finally, Savant Capital LLC boosted its holdings in DTE Energy by 37.4% during the fourth quarter. Savant Capital LLC now owns 7,426 shares of the utilities provider’s stock valued at $897,000 after purchasing an additional 2,021 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on DTE shares. Guggenheim raised DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on DTE Energy from $133.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. Finally, Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $137.00 to $135.00 in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.67.
Get Our Latest Stock Report on DTE
Insider Buying and Selling
In related news, COO Matthew T. Paul sold 3,801 shares of the business’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 transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.
DTE Energy Stock Performance
NYSE:DTE opened at $131.98 on Friday. DTE Energy has a 1 year low of $103.06 and a 1 year high of $132.88. The firm has a 50 day moving average of $122.15 and a 200-day moving average of $123.36. 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 stock has a market capitalization of $27.35 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.68.
DTE Energy (NYSE:DTE – Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.
DTE Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 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.
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