Clearbridge Investments LLC Reduces Stock Holdings in DTE Energy (NYSE:DTE)

Clearbridge Investments LLC trimmed its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,930,734 shares of the utilities provider's stock after selling 158,137 shares during the quarter. Clearbridge Investments LLC owned approximately 0.93% of DTE Energy worth $233,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DTE. ClearBridge Investments Ltd raised its holdings in DTE Energy by 10.1% during the 4th quarter. ClearBridge Investments Ltd now owns 598,401 shares of the utilities provider's stock worth $72,257,000 after purchasing an additional 55,071 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in DTE Energy by 517.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 58,400 shares of the utilities provider's stock worth $7,067,000 after buying an additional 48,936 shares during the last quarter. Schroder Investment Management Group lifted its holdings in DTE Energy by 42.3% in the fourth quarter. Schroder Investment Management Group now owns 34,928 shares of the utilities provider's stock valued at $4,211,000 after buying an additional 10,384 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in DTE Energy by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 101,451 shares of the utilities provider's stock valued at $12,250,000 after acquiring an additional 655 shares during the last quarter. Finally, Intrust Bank NA boosted its position in DTE Energy by 2.5% during the fourth quarter. Intrust Bank NA now owns 8,329 shares of the utilities provider's stock valued at $1,006,000 after acquiring an additional 207 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DTE shares. Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Scotiabank boosted their price target on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research note on Thursday, December 12th. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Barclays downgraded shares of DTE Energy from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley raised their price target 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.58.

DTE Energy Stock Down 5.5 %

NYSE DTE traded down $7.65 during trading hours on Friday, hitting $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 company has a market capitalization of $27.36 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. 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 has a 52 week low of $103.06 and a 52 week high of $140.39. The company's 50-day simple moving average is $130.43 and its two-hundred day simple moving average is $125.66.

DTE Energy (NYSE:DTE - Get Free Report) last posted its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Research analysts anticipate that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

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

Insider Activity at DTE Energy

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction on Monday, February 24th. The stock was 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. This trade represents a 33.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Matthew T. Paul sold 3,801 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock valued at $1,559,205 over the last ninety days. Corporate insiders own 0.33% 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.