Cinctive Capital Management LP Purchases New Position in DTE Energy (NYSE:DTE)

Cinctive Capital Management LP bought a new stake in DTE Energy (NYSE:DTE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 75,881 shares of the utilities provider's stock, valued at approximately $9,163,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the third quarter worth $30,000. Versant Capital Management Inc increased its holdings in shares of DTE Energy by 890.0% during the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock worth $36,000 after purchasing an additional 267 shares during the period. Robbins Farley acquired a new position in shares of DTE Energy during the fourth quarter valued at about $57,000. Kestra Investment Management LLC bought a new stake in shares of DTE Energy in the fourth quarter valued at about $57,000. Finally, AdvisorNet Financial Inc grew its position in DTE Energy by 81.5% during the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock worth $84,000 after buying an additional 313 shares in the last quarter. 76.06% of the stock is owned by institutional investors.

DTE Energy Price Performance

Shares of NYSE:DTE traded down $7.65 during midday trading on Friday, reaching $131.85. The company's stock had a trading volume of 1,732,004 shares, compared to its average volume of 1,169,473. The business's fifty day simple moving average is $130.43 and its 200-day simple moving average is $125.66. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $140.39. The company has a market capitalization of $27.36 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.41 and a beta of 0.59.

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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, 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%. As a group, equities research analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $1.09 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.31%. DTE Energy's payout ratio is 64.40%.

Insider Activity

In other 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 value of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company's stock, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred 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 sale, 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. In the last ninety days, insiders sold 11,877 shares of company stock valued at $1,559,205. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DTE shares. Scotiabank raised their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research report on Thursday, December 12th. Guggenheim raised their target price on 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 boosted 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. Barclays downgraded shares of DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $137.00 to $135.00 in a report on Thursday, February 20th. Finally, StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, DTE Energy presently has a consensus rating of "Moderate Buy" and an average price target of $138.58.

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.