Bank of New York Mellon Corp Decreases Stock Holdings in DTE Energy (NYSE:DTE)

Bank of New York Mellon Corp trimmed its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,384,335 shares of the utilities provider's stock after selling 52,895 shares during the period. Bank of New York Mellon Corp owned about 0.67% of DTE Energy worth $167,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in DTE Energy by 2.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,550 shares of the utilities provider's stock worth $841,000 after acquiring an additional 143 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of DTE Energy by 47.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,416 shares of the utilities provider's stock worth $1,709,000 after purchasing an additional 4,340 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of DTE Energy by 2.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,657 shares of the utilities provider's stock worth $2,267,000 after buying an additional 394 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of DTE Energy in the third quarter worth $210,000. Finally, abrdn plc raised its holdings in DTE Energy by 36.8% during the 3rd quarter. abrdn plc now owns 76,361 shares of the utilities provider's stock valued at $9,777,000 after buying an additional 20,524 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. KeyCorp lowered DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. UBS Group upgraded DTE Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Finally, Scotiabank upped their target price on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.67.

DTE Energy Stock Up 1.1 %

Shares of DTE stock traded up $1.50 during mid-day trading on Monday, reaching $135.20. 588,384 shares of the company's stock traded hands, compared to its average volume of 1,132,698. The company's 50-day moving average price is $123.47 and its 200-day moving average price is $123.83. The company has a market cap of $28.02 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.41 and a beta of 0.68. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. DTE Energy has a 12 month low of $103.06 and a 12 month high of $135.24.

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

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 3.22%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

Insider Buying and Selling at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction 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 $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction dated 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 owns 14,067 shares in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is owned by 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.