MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in DTE Energy (NYSE:DTE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of DTE Energy (NYSE:DTE) by 59.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,906 shares of the utilities provider’s stock after purchasing an additional 24,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in DTE Energy were worth $7,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its holdings in DTE Energy by 78.8% during the fourth quarter. Lazard Asset Management LLC now owns 5,547 shares of the utilities provider’s stock valued at $669,000 after purchasing an additional 2,444 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of DTE Energy in the fourth quarter valued at about $799,000. Janus Henderson Group PLC raised its position in shares of DTE Energy by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,732,819 shares of the utilities provider’s stock valued at $329,988,000 after buying an additional 12,554 shares during the last quarter. Focus Partners Wealth raised its position in shares of DTE Energy by 13.4% in the fourth quarter. Focus Partners Wealth now owns 175,530 shares of the utilities provider’s stock valued at $21,212,000 after buying an additional 20,791 shares during the last quarter. Finally, Ethic Inc. acquired a new stake in shares of DTE Energy in the fourth quarter valued at about $784,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DTE has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on shares of DTE Energy from $135.00 to $142.00 and gave the company a “market perform” rating in a research report on Monday, April 21st. Wells Fargo & Company raised their price objective on shares of DTE Energy from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. StockNews.com cut shares of DTE Energy from a “hold” rating to a “sell” rating in a research report on Friday. Guggenheim raised their price objective on shares of DTE Energy from $139.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, Morgan Stanley raised their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.31.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at $900,571.56. The trade was a 35.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is owned by corporate insiders.

DTE Energy Trading Up 1.4%

NYSE DTE opened at $138.19 on Friday. The firm has a 50 day simple moving average of $134.53 and a 200-day simple moving average of $127.28. 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 one year low of $108.40 and a one year high of $140.39. The firm has a market cap of $28.68 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. Equities research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, June 16th. This represents a $4.36 dividend on an annualized basis and a yield of 3.16%. DTE Energy’s payout ratio is currently 58.92%.

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.