Cbre Investment Management Listed Real Assets LLC Cuts Stake in DTE Energy (NYSE:DTE)

Cbre Investment Management Listed Real Assets LLC trimmed its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 43.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,803 shares of the utilities provider's stock after selling 2,925 shares during the quarter. Cbre Investment Management Listed Real Assets LLC's holdings in DTE Energy were worth $459,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy during the third quarter worth about $30,000. Prospera Private Wealth LLC acquired a new position in DTE Energy in the third quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new position in DTE Energy in the third quarter worth about $35,000. Versant Capital Management Inc grew its stake in 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 purchasing an additional 267 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in DTE Energy in the third quarter worth about $39,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DTE shares. Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. StockNews.com upgraded DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. KeyCorp downgraded DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley reduced their price objective on DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.67.

DTE Energy Trading Down 2.5 %

Shares of NYSE:DTE opened at $131.89 on Wednesday. The stock has a market capitalization of $27.33 billion, a PE ratio of 19.48, a P/E/G ratio of 2.41 and a beta of 0.68. DTE Energy has a 1 year low of $103.06 and a 1 year high of $136.28. The firm has a fifty day moving average price of $124.00 and a 200 day moving average price of $124.00. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a net margin of 11.27% and a return on equity of 12.42%. Analysts expect that DTE Energy will post 7.18 EPS 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. 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 3.31%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio is currently 64.40%.

Insider Activity

In other DTE Energy news, SVP Joann Chavez sold 7,062 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were 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 $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm's 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 transaction, the chief accounting officer now owns 3,437 shares of the company's stock, valued at approximately $446,535.04. This represents a 22.78 % 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 valued at $1,559,205. Insiders own 0.61% of the company's stock.

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.

Want to see what other hedge funds are holding DTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DTE Energy (NYSE:DTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.