Magellan Asset Management Ltd Trims Holdings in DTE Energy (NYSE:DTE)

Magellan Asset Management Ltd cut its holdings 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 quarter. Magellan Asset Management Ltd owned 0.07% of DTE Energy worth $17,789,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of DTE Energy by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 25,286,380 shares of the utilities provider's stock valued at $3,053,330,000 after acquiring an additional 879,670 shares during the period. State Street Corp increased its stake in DTE Energy by 7.0% in the third quarter. State Street Corp now owns 10,193,572 shares of the utilities provider's stock valued at $1,319,264,000 after purchasing an additional 662,569 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DTE Energy by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,920,971 shares of the utilities provider's stock valued at $592,642,000 after purchasing an additional 115,270 shares during the period. Boston Partners boosted its position in shares of DTE Energy by 25.1% during the 4th quarter. Boston Partners now owns 2,899,823 shares of the utilities provider's stock worth $350,150,000 after purchasing an additional 582,643 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of DTE Energy by 2.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,720,265 shares of the utilities provider's stock valued at $349,309,000 after buying an additional 64,880 shares during the period. 76.06% of the stock is currently owned by institutional investors.

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Insider Transactions at DTE Energy

In other news, 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 transaction of $492,457.56. Following the completion of the transaction, the chief operating officer now owns 6,951 shares in the company, valued at approximately $900,571.56. This represents a 35.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the business's 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 $1,862,470.80. This represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock worth $1,559,205 in the last quarter. Insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

Shares of NYSE DTE traded down $7.65 during midday trading on Friday, reaching $131.85. The company's stock had a trading volume of 1,732,004 shares, compared to its average volume of 1,169,727. The stock has a market capitalization of $27.36 billion, a P/E ratio of 19.47, a PEG ratio of 2.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. The firm has a 50 day moving average price of $130.43 and a 200-day moving average price of $125.66. DTE Energy has a 12-month low of $103.06 and a 12-month high of $140.39.

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

DTE Energy Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on DTE. BMO Capital Markets increased their price target on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Scotiabank increased their target price on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a report on Thursday, December 12th. Barclays lowered shares of DTE Energy from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Morgan Stanley upped their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, DTE Energy currently has a consensus rating of "Moderate Buy" and a consensus price target 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.