Franklin Resources Inc. Has $234.41 Million Stock Holdings in DTE Energy (NYSE:DTE)

Franklin Resources Inc. reduced its position in shares of DTE Energy (NYSE:DTE - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,941,295 shares of the utilities provider's stock after selling 104,715 shares during the period. Franklin Resources Inc. owned approximately 0.94% of DTE Energy worth $234,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of DTE Energy by 16.0% in the 4th quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock worth $293,000 after purchasing an additional 336 shares during the last quarter. Jones Financial Companies Lllp grew its position in DTE Energy by 72.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock worth $760,000 after buying an additional 2,642 shares during the last quarter. Nordea Investment Management AB grew its position 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 worth $26,706,000 after buying an additional 211,763 shares during the last quarter. Patton Albertson Miller Group LLC increased its holdings in shares of DTE Energy by 7.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider's stock valued at $5,667,000 after buying an additional 3,306 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of DTE Energy by 4.4% during the 4th quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock valued at $1,139,000 after acquiring an additional 395 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

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DTE Energy Stock Performance

Shares of DTE Energy stock traded down $7.65 on Friday, reaching $131.85. The stock had a trading volume of 1,732,004 shares, compared to its average volume of 1,169,727. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week high of $140.39. The business's 50-day moving average price is $130.43 and its two-hundred day moving average price is $125.66. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The stock has a market cap of $27.36 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 forecast that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank boosted their target price on shares of DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Barclays downgraded shares of DTE Energy from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. 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 report on Friday, March 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.58.

Insider Activity

In related news, SVP Joann Chavez sold 7,062 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the business'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 transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is owned by company insiders.

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.