JPMorgan Chase & Co. Sells 760,750 Shares of DTE Energy (NYSE:DTE)

JPMorgan Chase & Co. reduced its position in DTE Energy (NYSE:DTE - Free Report) by 46.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 892,949 shares of the utilities provider's stock after selling 760,750 shares during the period. JPMorgan Chase & Co. owned about 0.43% of DTE Energy worth $107,824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SkyOak Wealth LLC raised its stake in shares of DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider's stock worth $262,000 after purchasing an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in DTE Energy by 8.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider's stock worth $146,000 after buying an additional 90 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in DTE Energy by 4.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider's stock worth $258,000 after buying an additional 92 shares in the last quarter. Tidal Investments LLC lifted its stake in DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock valued at $320,000 after acquiring an additional 96 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of DTE Energy by 2.3% during the 4th quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider's stock valued at $525,000 after acquiring an additional 96 shares during the last quarter. 76.06% of the stock is owned by institutional investors.

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Insider Transactions at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joann Chavez sold 7,062 shares of the business's stock in a transaction on Monday, February 24th. The stock was 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 in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their position. 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 90 days. Company insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

NYSE DTE traded down $3.89 on Monday, reaching $127.91. 2,373,017 shares of the stock were exchanged, compared to its average volume of 1,174,521. 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 one year low of $103.06 and a one year high of $140.39. The firm has a market capitalization of $26.54 billion, a PE ratio of 18.89, a PEG ratio of 2.41 and a beta of 0.49. The company's 50-day simple moving average is $130.56 and its two-hundred day simple moving average is $125.70.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 EPS 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%. Analysts expect that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is 64.40%.

Analyst Upgrades and Downgrades

DTE has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Guggenheim increased their price target on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a report on Friday, March 21st. Scotiabank lifted their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Finally, Barclays cut DTE Energy from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $138.58.

DTE Energy Company 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.