Polymer Capital Management US LLC bought a new stake in DTE Energy (NYSE:DTE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 110,000 shares of the utilities provider's stock, valued at approximately $13,282,000. DTE Energy comprises 3.6% of Polymer Capital Management US LLC's portfolio, making the stock its 3rd largest position. Polymer Capital Management US LLC owned about 0.05% of DTE Energy at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DTE. Vanguard Group Inc. increased its stake in shares of DTE Energy by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock valued at $3,053,330,000 after buying an additional 879,670 shares during the period. Geode Capital Management LLC lifted its holdings in shares of DTE Energy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider's stock worth $592,642,000 after purchasing an additional 115,270 shares during the period. Boston Partners grew its stake in shares of DTE Energy by 25.1% in the fourth quarter. Boston Partners now owns 2,899,823 shares of the utilities provider's stock worth $350,150,000 after purchasing an additional 582,643 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in DTE Energy by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,664 shares of the utilities provider's stock worth $157,780,000 after purchasing an additional 31,827 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in DTE Energy by 3.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider's stock worth $116,512,000 after buying an additional 30,909 shares during the period. Institutional investors 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 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 value of $492,457.56. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the 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 sale, the senior vice president now owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. Insiders own 0.33% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on DTE. Morgan Stanley raised their price objective on DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. BMO Capital Markets upped their price target 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. Guggenheim upped their target price on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Finally, StockNews.com upgraded DTE Energy from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, DTE Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.58.
Check Out Our Latest Stock Report on DTE
DTE Energy Stock Performance
Shares of DTE stock traded up $0.84 during trading on Friday, hitting $129.59. The company's stock had a trading volume of 2,031,550 shares, compared to its average volume of 1,184,828. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The company has a market cap of $26.89 billion, a PE ratio of 19.14, a P/E/G ratio of 2.41 and a beta of 0.49. The business has a fifty day moving average of $131.68 and a 200-day moving average of $125.84. DTE Energy has a 52 week low of $103.06 and a 52 week high of $140.39.
DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating 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, research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current year.
DTE Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $1.09 per share. 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%.
DTE Energy Company Profile
(
Free Report)
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.
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