DTE Energy (NYSE:DTE) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in DTE Energy (NYSE:DTE - Free Report) by 58.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,914 shares of the utilities provider's stock after selling 16,574 shares during the period. Intech Investment Management LLC's holdings in DTE Energy were worth $1,439,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DTE. State Street Corp lifted its stake in shares of DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider's stock worth $1,319,264,000 after acquiring an additional 662,569 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of DTE Energy by 2.4% during the third quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider's stock worth $349,309,000 after acquiring an additional 64,880 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of DTE Energy by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,664 shares of the utilities provider's stock valued at $157,780,000 after acquiring an additional 31,827 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in DTE Energy by 3.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 907,345 shares of the utilities provider's stock worth $116,512,000 after purchasing an additional 30,909 shares in the last quarter. Finally, Barclays PLC increased its holdings in DTE Energy by 11.9% during the 3rd quarter. Barclays PLC now owns 755,084 shares of the utilities provider's stock worth $96,961,000 after purchasing an additional 80,543 shares during the period. 76.06% of the stock is owned by institutional investors.

Remove Ads

DTE Energy Stock Performance

DTE stock traded up $1.05 during trading on Wednesday, reaching $135.55. The company had a trading volume of 1,773,771 shares, compared to its average volume of 1,096,155. The company has a market cap of $28.13 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22. 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 firm has a 50-day simple moving average of $128.04 and a 200-day simple moving average of $125.03.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping 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, sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed 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 of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.22%. DTE Energy's payout ratio is 64.40%.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction 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 sale, the senior vice president now owns 14,067 shares of the company's stock, valued at $1,862,470.80. This 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 available through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm's stock in a transaction dated 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. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DTE shares. Guggenheim increased their price target on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Friday, February 21st. BMO Capital Markets boosted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. KeyCorp downgraded shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley lifted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $138.58.

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.