Parkside Financial Bank & Trust Cuts Stock Position in DTE Energy (NYSE:DTE)

Parkside Financial Bank & Trust lessened its stake in shares of DTE Energy (NYSE:DTE) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 499 shares of the utilities provider’s stock after selling 199 shares during the period. Parkside Financial Bank & Trust’s holdings in DTE Energy were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MV Capital Management Inc. lifted its holdings in shares of DTE Energy by 104.4% in the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 143 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of DTE Energy in the 3rd quarter valued at about $36,000. Compagnie Lombard Odier SCmA bought a new position in shares of DTE Energy in the 3rd quarter valued at about $37,000. Authentikos Wealth Advisory LLC bought a new position in shares of DTE Energy in the 3rd quarter valued at about $43,000. Finally, Horizon Bancorp Inc. IN bought a new position in shares of DTE Energy in the 3rd quarter valued at about $54,000. Institutional investors own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DTE shares. Barclays increased their price target on shares of DTE Energy from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. BMO Capital Markets increased their price objective on shares of DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Wolfe Research lowered shares of DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. Finally, Scotiabank reduced their price objective on shares of DTE Energy from $129.00 to $120.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.10.

Insider Activity at DTE Energy

In related news, CAO Tracy J. Myrick sold 600 shares of DTE Energy stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the transaction, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at $370,572.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Matthew T. Paul sold 5,850 shares of DTE Energy stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.92, for a total transaction of $625,482.00. Following the transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $743,200.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The disclosure for this sale can be found here. Insiders have sold a total of 20,095 shares of company stock valued at $2,168,183 over the last ninety days. 0.61% of the stock is owned by company insiders.

DTE Energy Stock Performance

Shares of NYSE:DTE opened at $109.52 on Friday. The firm has a market cap of $22.66 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The firm’s 50 day simple moving average is $109.15 and its 200-day simple moving average is $106.15. DTE Energy has a one year low of $90.14 and a one year high of $116.73. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.60.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.81 billion. DTE Energy had a return on equity of 11.63% and a net margin of 10.36%. As a group, equities analysts predict that DTE Energy will post 6.69 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, March 15th. DTE Energy’s payout ratio is 66.78%.

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.