DTE Energy (NYSE:DTE) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in shares of DTE Energy (NYSE:DTE) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,038 shares of the utilities provider’s stock after buying an additional 622 shares during the period. Cetera Investment Advisers’ holdings in DTE Energy were worth $3,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of DTE Energy by 16.0% during the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock worth $293,000 after buying an additional 336 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of DTE Energy by 72.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock worth $760,000 after buying an additional 2,642 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of DTE Energy by 39.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock worth $693,000 after buying an additional 1,618 shares during the last quarter. Patton Albertson Miller Group LLC increased its holdings in DTE Energy by 7.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider’s stock valued at $5,667,000 after purchasing an additional 3,306 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in DTE Energy by 4.4% in the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider’s stock valued at $1,139,000 after purchasing an additional 395 shares during the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insider Transactions at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction that occurred 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 approximately $900,571.56. This represents a 35.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares of the company’s stock, valued at approximately $446,535.04. This trade represents a 22.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,877 shares of company stock valued at $1,559,205. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DTE. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $137.00 to $135.00 in a report on Thursday, February 20th. BMO Capital Markets lifted their price objective on shares of DTE Energy from $135.00 to $142.00 and gave the stock a “market perform” rating in a research report on Monday, April 21st. Guggenheim upped their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Evercore ISI upped their price objective on shares of DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company upped their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, DTE Energy presently has an average rating of “Moderate Buy” and an average price target of $140.31.

DTE Energy Price Performance

Shares of DTE opened at $136.08 on Friday. DTE Energy has a fifty-two week low of $108.40 and a fifty-two week high of $140.39. The company has a market capitalization of $28.24 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47. The firm has a 50-day simple moving average of $134.40 and a 200-day simple moving average of $127.16. 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 (NYSE:DTE) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.12. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. During the same quarter in the prior year, the firm earned $1.67 earnings per share. On average, equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is 58.92%.

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.