Mackenzie Financial Corp Reduces Stake in DTE Energy (NYSE:DTE)

Mackenzie Financial Corp decreased its stake in shares of DTE Energy (NYSE:DTE) by 4.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,937 shares of the utilities provider’s stock after selling 909 shares during the period. Mackenzie Financial Corp’s holdings in DTE Energy were worth $1,978,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in DTE Energy by 16.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after purchasing an additional 724,561 shares in the last quarter. Invesco Ltd. increased its stake in DTE Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock worth $221,314,000 after acquiring an additional 137,960 shares during the last quarter. Northern Trust Corp increased its stake in DTE Energy by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,923,222 shares of the utilities provider’s stock worth $190,937,000 after acquiring an additional 27,891 shares during the last quarter. California Public Employees Retirement System increased its stake in DTE Energy by 2.3% in the 3rd quarter. California Public Employees Retirement System now owns 1,232,976 shares of the utilities provider’s stock worth $122,410,000 after acquiring an additional 27,216 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in DTE Energy by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,180,851 shares of the utilities provider’s stock worth $117,235,000 after acquiring an additional 8,783 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Buying and Selling

In related news, COO Robert A. Richard sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the transaction, the chief operating officer now directly owns 26,118 shares in the company, valued at approximately $2,801,155.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other DTE Energy news, COO Matthew T. Paul sold 5,850 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.92, for a total value of $625,482.00. Following the completion of the sale, the chief operating officer now owns 6,951 shares in the company, valued at approximately $743,200.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Robert A. Richard sold 4,800 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total value of $514,800.00. Following the completion of the sale, the chief operating officer now owns 26,118 shares of the company’s stock, valued at approximately $2,801,155.50. The disclosure for this sale can be found here. Insiders have sold a total of 20,095 shares of company stock worth $2,168,183 in the last ninety days. 0.61% of the stock is owned by insiders.

DTE Energy Price Performance

DTE opened at $110.11 on Wednesday. The stock’s 50 day simple moving average is $108.93 and its 200 day simple moving average is $105.98. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. DTE Energy has a 1 year low of $90.14 and a 1 year high of $116.73. The firm has a market cap of $22.78 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.70 and a beta of 0.64.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.01. DTE Energy had a return on equity of 11.00% and a net margin of 10.96%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the company earned $1.31 EPS. As a group, analysts predict that DTE Energy will post 6.71 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were given a dividend of $1.02 per share. The ex-dividend date was Friday, March 15th. This represents a $4.08 annualized dividend and a yield of 3.71%. DTE Energy’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DTE shares. Morgan Stanley upped their target price on DTE Energy from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Scotiabank decreased their target price on DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research note on Monday. TheStreet upgraded DTE Energy from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Finally, BMO Capital Markets increased their price objective on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.10.

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.