Greenland Capital Management LP Acquires New Shares in DTE Energy (NYSE:DTE)

Greenland Capital Management LP purchased a new stake in DTE Energy (NYSE:DTE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 105,070 shares of the utilities provider's stock, valued at approximately $12,687,000. DTE Energy makes up about 2.0% of Greenland Capital Management LP's holdings, making the stock its 4th largest position. Greenland Capital Management LP owned about 0.05% of DTE Energy as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DTE. Vanguard Group Inc. lifted its holdings in shares of DTE Energy by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock valued at $3,053,330,000 after purchasing an additional 879,670 shares during the last quarter. Invesco Ltd. increased its position in DTE Energy by 50.2% during the fourth quarter. Invesco Ltd. now owns 2,462,592 shares of the utilities provider's stock worth $297,358,000 after buying an additional 822,854 shares during the period. Boston Partners lifted its stake in DTE Energy by 25.1% in the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider's stock valued at $350,150,000 after buying an additional 582,643 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of DTE Energy in the fourth quarter valued at approximately $43,063,000. Finally, Nordea Investment Management AB grew its position in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider's stock worth $26,706,000 after acquiring an additional 211,763 shares during the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction on Monday, February 24th. The stock was 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 represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of the company's stock in a transaction dated 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 sale, the chief operating officer now directly 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 over the last three months. Corporate insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of DTE Energy stock traded up $0.84 during trading hours on Friday, reaching $129.59. The company's stock had a trading volume of 2,031,550 shares, compared to its average volume of 1,183,542. DTE Energy has a one year low of $103.06 and a one year high of $140.39. The company's 50 day simple moving average is $131.68 and its 200 day simple moving average is $125.84. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market cap of $26.89 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. As a group, analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, March 17th. DTE Energy's dividend payout ratio is currently 64.40%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DTE. Morgan Stanley increased their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. StockNews.com upgraded DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. BMO Capital Markets lifted their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Finally, Guggenheim raised their target price on shares of DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $138.58.

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.