Jones Financial Companies Lllp Purchases 2,642 Shares of DTE Energy (NYSE:DTE)

Jones Financial Companies Lllp grew its position in shares of DTE Energy (NYSE:DTE) by 72.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,295 shares of the utilities provider’s stock after acquiring an additional 2,642 shares during the quarter. Jones Financial Companies Lllp’s holdings in DTE Energy were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTE. Legacy Investment Solutions LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $35,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $35,000. Versant Capital Management Inc boosted its position in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Finally, Coastline Trust Co bought a new position in shares of DTE Energy during the 3rd quarter valued at approximately $39,000. 76.06% of the stock is currently owned by institutional investors.

Insider Activity

In other DTE Energy 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 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. The trade was a 35.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.61% of the company’s stock.

DTE Energy Stock Performance

DTE stock opened at $131.46 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business’s fifty day simple moving average is $124.61 and its two-hundred day simple moving average is $124.16. DTE Energy has a twelve month low of $103.06 and a twelve month high of $136.28. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.32%. DTE Energy’s dividend payout ratio is currently 64.40%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DTE. Morgan Stanley lowered their price target on DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. 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 report on Thursday, December 12th. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Guggenheim upgraded DTE Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets raised their price target on DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.67.

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.