Allstate Corp Buys New Shares in DTE Energy (NYSE:DTE)

Allstate Corp acquired a new position in shares of DTE Energy (NYSE:DTE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,271 shares of the utilities provider's stock, valued at approximately $757,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SkyOak Wealth LLC increased its position in shares of DTE Energy by 4.1% during the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider's stock worth $262,000 after purchasing an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of DTE Energy by 8.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider's stock worth $146,000 after buying an additional 90 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of DTE Energy by 4.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider's stock worth $258,000 after buying an additional 92 shares in the last quarter. Tidal Investments LLC raised its stake in shares of DTE Energy by 4.0% in the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock valued at $320,000 after acquiring an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of DTE Energy by 2.3% in the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider's stock worth $525,000 after acquiring an additional 96 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DTE. Morgan Stanley lifted their price objective on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Guggenheim upped their price target 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. BMO Capital Markets raised 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, Scotiabank upped their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.58.

DTE Energy Trading Down 5.5 %

NYSE DTE traded down $7.65 on Friday, reaching $131.85. The company had a trading volume of 1,732,004 shares, compared to its average volume of 1,169,727. DTE Energy has a 52 week low of $103.06 and a 52 week high of $140.39. The stock's 50 day moving average is $130.43 and its 200-day moving average is $125.66. 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 stock has a market cap of $27.36 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 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%. Equities analysts predict 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. Shareholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.31%. DTE Energy's dividend payout ratio (DPR) is currently 64.40%.

Insider Buying and Selling at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the firm's 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 sale, the chief operating officer now directly owns 6,951 shares in the company, valued at $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares of the company's stock, valued at approximately $1,862,470.80. The trade was a 33.42 % 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 currently owned by corporate insiders.

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.