DTE Energy (NYSE:DTE) Stake Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in DTE Energy (NYSE:DTE - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,036 shares of the utilities provider's stock after selling 2,363 shares during the period. Corebridge Financial Inc.'s holdings in DTE Energy were worth $5,921,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of DTE Energy in the 3rd quarter worth about $30,000. Versant Capital Management Inc grew its position in shares of DTE Energy by 890.0% in the fourth 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 last quarter. Robbins Farley purchased a new position in shares of DTE Energy during the 4th quarter worth approximately $57,000. Kestra Investment Management LLC acquired a new position in shares of DTE Energy during the 4th quarter worth approximately $57,000. Finally, AdvisorNet Financial Inc lifted its stake in DTE Energy by 81.5% in the 4th 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. Institutional investors and hedge funds own 76.06% of the company's stock.

DTE Energy Trading Up 1.0 %

Shares of DTE traded up $1.36 during mid-day trading on Thursday, reaching $139.36. The company had a trading volume of 1,946,773 shares, compared to its average volume of 1,167,396. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 20.58, 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. The firm has a fifty day simple moving average of $130.18 and a 200-day simple moving average of $125.62. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $140.39.

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

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

Insider Activity

In other news, CAO Tracy J. Myrick sold 1,014 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the sale, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. This represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 over the last 90 days. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DTE shares. BMO Capital Markets boosted their price target on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. KeyCorp cut DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Scotiabank upped their target price 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. Morgan Stanley lifted 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. Finally, Barclays lowered shares of DTE Energy from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Five 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 currently has a consensus rating of "Moderate Buy" and an average price target of $138.58.

DTE Energy Company 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.