Envestnet Asset Management Inc. Acquires 5,969 Shares of DTE Energy (NYSE:DTE)

Envestnet Asset Management Inc. grew its holdings in shares of DTE Energy (NYSE:DTE) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,069 shares of the utilities provider’s stock after buying an additional 5,969 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of DTE Energy worth $18,966,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DTE. Versant Capital Management Inc boosted its position in DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 267 shares during the last quarter. Robbins Farley bought a new position in shares of DTE Energy in the fourth quarter valued at $57,000. Kestra Investment Management LLC acquired a new position in DTE Energy during the fourth quarter worth $57,000. AdvisorNet Financial Inc lifted its stake in DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 313 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of DTE Energy in the 4th quarter valued at about $87,000. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at $900,571.56. This trade represents a 35.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 14,067 shares in the company, valued at $1,862,470.80. This trade represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Morgan Stanley increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Guggenheim lifted their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Finally, BMO Capital Markets raised their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. 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 Price Performance

Shares of DTE stock opened at $133.10 on Tuesday. DTE Energy has a twelve month low of $103.06 and a twelve month high of $140.39. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The business has a fifty day simple moving average of $131.89 and a 200 day simple moving average of $125.88. The company has a market cap of $27.62 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.41 and a beta of 0.49.

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

DTE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.28%. DTE Energy’s payout ratio is presently 64.40%.

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.