Illinois Municipal Retirement Fund Cuts Stock Position in DTE Energy (NYSE:DTE)

Illinois Municipal Retirement Fund cut its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,568 shares of the utilities provider's stock after selling 25,653 shares during the quarter. Illinois Municipal Retirement Fund's holdings in DTE Energy were worth $5,985,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DTE. Allworth Financial LP boosted its stake in shares of DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock valued at $293,000 after buying an additional 336 shares in the last quarter. Nordea Investment Management AB lifted its holdings in DTE Energy by 2,235.2% in the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider's stock valued at $26,706,000 after acquiring an additional 211,763 shares during the period. Patton Albertson Miller Group LLC boosted its position in shares of DTE Energy by 7.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider's stock worth $5,667,000 after purchasing an additional 3,306 shares in the last quarter. Hancock Whitney Corp grew its stake in shares of DTE Energy by 80.0% during the 3rd quarter. Hancock Whitney Corp now owns 12,885 shares of the utilities provider's stock worth $1,655,000 after purchasing an additional 5,725 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of DTE Energy in the 3rd quarter valued at about $650,000. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 1,014 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the company's 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DTE. Scotiabank boosted their target price 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. Morgan Stanley cut their price target on DTE Energy from $131.00 to $128.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. KeyCorp cut shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Finally, UBS Group upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.67.

DTE Energy Price Performance

Shares of DTE stock traded up $1.92 during trading hours on Friday, hitting $133.76. 1,161,945 shares of the company's stock were exchanged, compared to its average volume of 1,151,437. DTE Energy has a 52 week low of $103.06 and a 52 week high of $134.11. The stock's 50-day moving average is $123.47 and its 200-day moving average is $123.82. 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 has a market cap of $27.72 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS 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%. As a group, research analysts forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, March 17th. DTE Energy's dividend payout ratio is 64.40%.

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.