Geode Capital Management LLC Purchases 115,270 Shares of DTE Energy (NYSE:DTE)

Geode Capital Management LLC boosted its stake in DTE Energy (NYSE:DTE - Free Report) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,920,971 shares of the utilities provider's stock after purchasing an additional 115,270 shares during the quarter. Geode Capital Management LLC owned about 2.38% of DTE Energy worth $592,642,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of DTE Energy in the 3rd quarter valued at approximately $30,000. Versant Capital Management Inc raised its holdings in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock worth $36,000 after purchasing an additional 267 shares during the period. Robbins Farley bought a new position in shares of DTE Energy during the fourth quarter worth $57,000. Kestra Investment Management LLC acquired a new position in DTE Energy in the fourth quarter valued at about $57,000. Finally, AdvisorNet Financial Inc grew its position in shares of 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 purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 76.06% of the company's stock.

Wall Street Analyst Weigh In

DTE has been the topic of several research reports. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Guggenheim upped their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Morgan Stanley lifted their target price on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Scotiabank raised their price target 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. Finally, BMO Capital Markets boosted their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.58.

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Insiders Place Their Bets

In related news, CAO Tracy J. Myrick sold 1,014 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the 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 transaction, the chief operating officer now owns 6,951 shares in the company, valued at $900,571.56. The trade was a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,877 shares of company stock worth $1,559,205 over the last three months. Insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of DTE traded up $2.94 during mid-day trading on Wednesday, reaching $130.33. The company's stock had a trading volume of 1,870,226 shares, compared to its average volume of 1,179,166. 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 1-year low of $103.06 and a 1-year high of $140.39. The business has a 50-day simple moving average of $131.35 and a two-hundred day simple moving average of $125.79. The stock has a market cap of $27.05 billion, a P/E ratio of 19.25, a PEG ratio of 2.41 and a beta of 0.49.

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

DTE Energy Announces Dividend

The business 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 $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.35%. DTE Energy's dividend payout ratio is currently 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.