DTE Energy (NYSE:DTE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in DTE Energy (NYSE:DTE) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 253,806 shares of the utilities provider’s stock after selling 7,551 shares during the quarter. Principal Financial Group Inc.’s holdings in DTE Energy were worth $30,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its holdings in shares of DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 336 shares during the period. Nordea Investment Management AB increased its holdings in shares of DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock valued at $26,706,000 after purchasing an additional 211,763 shares during the period. Patton Albertson Miller Group LLC increased its holdings in shares of DTE Energy by 7.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after purchasing an additional 3,306 shares during the period. Hancock Whitney Corp increased its holdings in shares of DTE Energy by 80.0% in the third quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider’s stock valued at $1,655,000 after purchasing an additional 5,725 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of DTE Energy in the third quarter valued at approximately $650,000. Institutional investors and hedge funds own 76.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DTE. Barclays lowered DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $137.00 to $135.00 in a report on Thursday. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research note on Friday. UBS Group upgraded DTE Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their price target on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

Insider Buying and Selling

In related news, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The stock was 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 approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This 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 company insiders.

DTE Energy Trading Up 0.6 %

Shares of DTE stock opened at $131.98 on Friday. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $132.88. The stock has a market cap of $27.35 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.41 and a beta of 0.68. The business has a fifty day simple moving average of $122.15 and a 200-day simple moving average of $123.39. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, analysts forecast that DTE Energy will post 7.18 earnings per share 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 dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

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.