Bernard Wealth Management Corp. Buys New Stake in DTE Energy (NYSE:DTE)

Bernard Wealth Management Corp. purchased a new position in shares of DTE Energy (NYSE:DTE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,654 shares of the utilities provider's stock, valued at approximately $924,000.

Several other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in DTE Energy in the 3rd quarter worth approximately $30,000. Versant Capital Management Inc increased its stake in shares of DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock worth $36,000 after acquiring an additional 267 shares during the last quarter. Robbins Farley purchased a new stake in shares of DTE Energy during the fourth quarter worth $57,000. Kestra Investment Management LLC acquired a new stake in DTE Energy during the fourth quarter valued at $57,000. Finally, AdvisorNet Financial Inc grew its stake in DTE Energy by 81.5% in the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock valued at $84,000 after purchasing an additional 313 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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Insiders Place Their Bets

In related news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the sale, the chief accounting officer now directly owns 3,437 shares of the company's stock, valued at $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew T. Paul sold 3,801 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 in the last ninety days. Insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of NYSE:DTE traded up $0.84 during midday 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 1,183,542. 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's 50 day simple moving average is $131.68 and its 200 day simple moving average is $125.84. The stock has a market capitalization of $26.89 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.41 and a beta of 0.49. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last announced its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

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.