DTE Energy (NYSE:DTE) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in DTE Energy (NYSE:DTE) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,916 shares of the utilities provider’s stock after selling 146 shares during the period. Van ECK Associates Corp’s holdings in DTE Energy were worth $231,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in DTE Energy in the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in DTE Energy in the 3rd quarter worth about $35,000. Prospera Private Wealth LLC acquired a new stake in DTE Energy in the 3rd quarter worth about $35,000. Versant Capital Management Inc boosted its stake in DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock worth $36,000 after buying an additional 267 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in DTE Energy in the 3rd quarter worth about $39,000. 76.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DTE has been the topic of a number of research analyst reports. Scotiabank raised their price target on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. BMO Capital Markets raised their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.67.

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 stock was 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 approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction 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 transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

DTE Energy Stock Up 0.6 %

Shares of DTE Energy stock opened at $131.98 on Monday. The stock’s fifty day moving average is $122.15 and its 200-day moving average is $123.41. The firm has a market capitalization of $27.35 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. 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 has a 12-month low of $103.06 and a 12-month high of $132.88.

DTE Energy (NYSE:DTE) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 3.30%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

About DTE Energy

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.