NEOS Investment Management LLC Raises Stock Position in DTE Energy (NYSE:DTE)

NEOS Investment Management LLC raised its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 29.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,866 shares of the utilities provider's stock after purchasing an additional 2,486 shares during the quarter. NEOS Investment Management LLC's holdings in DTE Energy were worth $1,312,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of DTE Energy by 16.0% during the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock worth $293,000 after acquiring an additional 336 shares during the period. Jones Financial Companies Lllp raised its position in DTE Energy by 72.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock valued at $760,000 after purchasing an additional 2,642 shares in the last quarter. Nordea Investment Management AB grew its position in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider's stock worth $26,706,000 after buying an additional 211,763 shares in the last quarter. Patton Albertson Miller Group LLC increased its stake in shares of DTE Energy by 7.6% during the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider's stock valued at $5,667,000 after buying an additional 3,306 shares during the period. Finally, M&T Bank Corp raised its holdings in shares of DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock valued at $1,139,000 after acquiring an additional 395 shares in the last quarter. 76.06% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

DTE has been the subject of several recent research reports. Guggenheim boosted their price target on shares of DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a report on Friday, March 21st. Morgan Stanley lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. KeyCorp cut DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Scotiabank upped their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a report on Thursday, December 12th. Finally, BMO Capital Markets increased 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. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.58.

DTE Energy Stock Performance

Shares of NYSE DTE traded up $1.78 during midday trading on Thursday, reaching $139.78. 463,025 shares of the stock were exchanged, compared to its average volume of 1,162,228. 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 firm has a 50-day simple moving average of $129.78 and a two-hundred day simple moving average of $125.53. DTE Energy has a twelve month low of $103.06 and a twelve month high of $140.08. The firm has a market cap of $29.01 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid 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 3.12%. DTE Energy's dividend payout ratio is presently 64.40%.

Insider Buying and Selling at DTE Energy

In related news, 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 completion of the sale, the chief accounting officer now directly owns 3,437 shares of the company's stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. Insiders own 0.33% of the company's stock.

DTE Energy 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.