Sit Investment Associates Inc. Has $4.93 Million Stock Position in DTE Energy (NYSE:DTE)

Sit Investment Associates Inc. decreased its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,855 shares of the utilities provider's stock after selling 3,160 shares during the quarter. Sit Investment Associates Inc.'s holdings in DTE Energy were worth $4,933,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in 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 acquiring an additional 336 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock worth $760,000 after purchasing an additional 2,642 shares during the period. Nordea Investment Management AB lifted its position in shares of DTE Energy by 2,235.2% in the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider's stock worth $26,706,000 after purchasing an additional 211,763 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of DTE Energy by 39.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 5,742 shares of the utilities provider's stock valued at $693,000 after purchasing an additional 1,618 shares during the last quarter. Finally, Patton Albertson Miller Group LLC increased its position 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 worth $5,667,000 after buying an additional 3,306 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Analyst Ratings Changes

DTE has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. BMO Capital Markets upped their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. StockNews.com upgraded DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Finally, 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 research report on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.58.

DTE Energy Stock Performance

NYSE DTE traded up $0.45 on Friday, reaching $129.20. The stock had a trading volume of 390,961 shares, compared to its average volume of 1,177,597. The stock has a market cap of $26.81 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a 12-month low of $103.06 and a 12-month high of $140.39. The business's 50-day moving average price is $131.51 and its 200 day moving average price is $125.81. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71.

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, 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%. As a group, equities analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a dividend yield of 3.37%. DTE Energy's payout ratio is currently 64.40%.

Insider Buying and Selling

In other news, CAO Tracy J. Myrick sold 1,014 shares of the business's stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. The trade was 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 in the last quarter. Company 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.