Magellan Asset Management Ltd Decreases Stake in DTE Energy (NYSE:DTE)

Magellan Asset Management Ltd decreased its stake in DTE Energy (NYSE:DTE - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 147,318 shares of the utilities provider's stock after selling 28,115 shares during the period. Magellan Asset Management Ltd owned 0.07% of DTE Energy worth $17,789,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of DTE. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the third quarter worth about $30,000. Versant Capital Management Inc increased its stake in DTE Energy by 890.0% in the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 267 shares during the last quarter. Robbins Farley bought a new stake in shares of DTE Energy in the 4th quarter worth approximately $57,000. Kestra Investment Management LLC bought a new position in DTE Energy during the 4th quarter worth approximately $57,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of DTE Energy by 81.5% during the fourth quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock worth $84,000 after purchasing an additional 313 shares during the period. Institutional investors own 76.06% of the company's stock.

Insiders Place Their Bets

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares of the company's stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their position. 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 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets lifted their price target 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. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Barclays cut shares of DTE Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley raised their price objective on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Five investment 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $138.58.

DTE Energy Stock Up 1.7 %

DTE Energy stock traded up $2.12 during mid-day trading on Tuesday, reaching $130.07. 298,464 shares of the company were exchanged, compared to its average volume of 1,171,185. DTE Energy has a 12-month low of $103.06 and a 12-month high of $140.39. The business has a fifty day moving average of $130.56 and a 200 day moving average of $125.70. The firm has a market cap of $26.99 billion, a P/E ratio of 19.26, a PEG ratio of 2.41 and a beta of 0.49. 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 released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. Research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given 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 presently 64.40%.

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.