DTE Energy (NYSE:DTE) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its stake in DTE Energy (NYSE:DTE) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,624 shares of the utilities provider’s stock after selling 242 shares during the period. Alaska Permanent Fund Corp’s holdings in DTE Energy were worth $179,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of DTE Energy by 16.4% in the third quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock valued at $509,081,000 after buying an additional 724,561 shares in the last quarter. Barclays PLC boosted its holdings in DTE Energy by 29.2% in the 3rd quarter. Barclays PLC now owns 670,592 shares of the utilities provider’s stock worth $66,577,000 after acquiring an additional 151,507 shares during the period. Invesco Ltd. raised its stake in shares of DTE Energy by 6.6% during the third quarter. Invesco Ltd. now owns 2,229,189 shares of the utilities provider’s stock valued at $221,314,000 after purchasing an additional 137,960 shares during the period. Adams Diversified Equity Fund Inc. acquired a new position in shares of DTE Energy during the third quarter worth $13,641,000. Finally, ING Groep NV lifted its position in shares of DTE Energy by 307.2% during the third quarter. ING Groep NV now owns 119,884 shares of the utilities provider’s stock worth $11,902,000 after purchasing an additional 90,442 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the sale, the chief accounting officer now directly owns 3,462 shares of the company’s stock, valued at approximately $370,572.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other DTE Energy news, COO Robert A. Richard sold 4,800 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $107.25, for a total transaction of $514,800.00. Following the sale, the chief operating officer now owns 26,118 shares in the company, valued at approximately $2,801,155.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Tracy J. Myrick sold 600 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $107.04, for a total transaction of $64,224.00. Following the completion of the transaction, the chief accounting officer now owns 3,462 shares of the company’s stock, valued at $370,572.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,095 shares of company stock worth $2,168,183. Insiders own 0.61% of the company’s stock.

DTE Energy Trading Down 1.5 %

DTE Energy stock opened at $109.52 on Friday. DTE Energy has a 12-month low of $90.14 and a 12-month high of $116.73. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.60 and a quick ratio of 0.42. The stock has a market capitalization of $22.66 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The firm has a 50 day simple moving average of $109.15 and a 200-day simple moving average of $106.15.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.04). DTE Energy had a net margin of 10.36% and a return on equity of 11.63%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, equities research analysts expect that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 18th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, March 15th. DTE Energy’s payout ratio is 66.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DTE shares. Wolfe Research lowered DTE Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. boosted their price objective on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. BMO Capital Markets increased their target price on DTE Energy from $111.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. Morgan Stanley boosted their price target on DTE Energy from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Barclays raised their price objective on DTE Energy from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven 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 $115.10.

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.