California Public Employees Retirement System Trims Stock Holdings in DTE Energy (NYSE:DTE)

California Public Employees Retirement System decreased its stake in DTE Energy (NYSE:DTE - Free Report) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 985,661 shares of the utilities provider's stock after selling 4,148 shares during the quarter. California Public Employees Retirement System owned approximately 0.48% of DTE Energy worth $119,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of 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 lifted its stake in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 267 shares during the period. Robbins Farley purchased a new stake in DTE Energy during the fourth quarter worth $57,000. Kestra Investment Management LLC purchased a new position in DTE Energy in the fourth quarter valued at $57,000. Finally, AdvisorNet Financial Inc increased its holdings 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 buying an additional 313 shares in the last quarter. 76.06% of the stock is owned by institutional investors and hedge funds.

DTE Energy Price Performance

DTE traded down $7.65 on Friday, reaching $131.85. 1,732,004 shares of the company's stock were exchanged, compared to its average volume of 1,169,473. DTE Energy has a twelve month low of $103.06 and a twelve month high of $140.39. The stock has a market cap of $27.36 billion, a PE ratio of 19.47, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The stock's fifty day moving average price is $130.43 and its 200-day moving average price is $125.66.

Remove Ads

DTE Energy (NYSE:DTE - Get Free Report) last issued its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Sell-side analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DTE shares. StockNews.com upgraded DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Morgan Stanley raised their price objective on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. BMO Capital Markets upped their target price on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Barclays lowered DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, Scotiabank boosted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $138.58.

Insider Transactions at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares of the company's stock, valued at $446,535.04. This represents a 22.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now directly 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. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. Company 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.