DTE Energy (NYSE:DTE) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its position in DTE Energy (NYSE:DTE) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,734 shares of the utilities provider’s stock after acquiring an additional 11,760 shares during the quarter. LPL Financial LLC owned 0.09% of DTE Energy worth $22,910,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. SkyOak Wealth LLC lifted its position in shares of DTE Energy by 4.1% during the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after buying an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of DTE Energy by 4.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 92 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of DTE Energy by 4.0% in the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of DTE Energy by 2.3% during the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock worth $525,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company’s stock, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock valued at $1,559,205 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on DTE. Barclays cut shares of 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, February 20th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. BMO Capital Markets boosted their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, KeyCorp downgraded DTE Energy from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have assigned 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 $138.58.

DTE Energy Stock Performance

Shares of DTE opened at $136.47 on Monday. The stock has a market capitalization of $28.32 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.22. The company’s fifty day moving average is $128.84 and its two-hundred day moving average is $125.26.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. On average, sell-side analysts predict 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. Shareholders of record on Monday, March 17th will be given 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 3.19%. DTE Energy’s payout ratio is currently 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.