Westwood Holdings Group Inc. Has $13.34 Million Stake in DTE Energy (NYSE:DTE)

Westwood Holdings Group Inc. trimmed its stake in shares of DTE Energy (NYSE:DTE) by 83.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,506 shares of the utilities provider’s stock after selling 566,476 shares during the period. Westwood Holdings Group Inc.’s holdings in DTE Energy were worth $13,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTE. Allworth Financial LP grew its position in DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 336 shares in the last quarter. Jones Financial Companies Lllp grew its position in DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 2,642 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in DTE Energy by 39.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 1,618 shares in the last quarter. Patton Albertson Miller Group LLC grew its position in DTE Energy by 7.6% in the fourth 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 in the last quarter. Finally, M&T Bank Corp grew its position in DTE Energy by 4.4% in the fourth 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 in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of DTE Energy from $145.00 to $154.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Evercore ISI raised their target price on shares of DTE Energy from $136.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $137.00 to $135.00 in a research 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 company a “market perform” rating in a research report on Monday, April 21st. Finally, Morgan Stanley lifted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.31.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred 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 owns 6,951 shares of the company’s stock, 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. Insiders sold 11,877 shares of company stock worth $1,559,205 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

DTE Energy Price Performance

Shares of DTE Energy stock opened at $138.40 on Tuesday. DTE Energy has a twelve month low of $108.40 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 company has a 50-day simple moving average of $134.67 and a two-hundred day simple moving average of $127.42. The stock has a market capitalization of $28.72 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data 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. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the company earned $1.67 EPS. Analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, June 16th. DTE Energy’s dividend payout ratio (DPR) is 58.92%.

DTE Energy Company 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.