Massachusetts Financial Services Co. MA Lowers Position in DTE Energy (NYSE:DTE)

Massachusetts Financial Services Co. MA reduced its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,653,985 shares of the utilities provider's stock after selling 11,643 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.80% of DTE Energy worth $199,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of DTE Energy in the 3rd quarter worth about $30,000. Versant Capital Management Inc boosted 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 position in shares of DTE Energy during the 4th quarter valued at approximately $57,000. Kestra Investment Management LLC purchased a new stake in shares of DTE Energy during the 4th quarter worth approximately $57,000. Finally, AdvisorNet Financial Inc raised its holdings 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 worth $84,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 76.06% of the company's stock.

Insider Activity

In related news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now owns 6,951 shares of the company's stock, valued at approximately $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

A number of research firms have issued reports on DTE. Morgan Stanley raised their target price on DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Barclays lowered shares of DTE Energy from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. Scotiabank boosted their price target on shares of DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets raised their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.58.

DTE Energy Price Performance

NYSE DTE traded down $3.89 during trading on Monday, reaching $127.91. The company's stock had a trading volume of 2,373,017 shares, compared to its average volume of 1,174,520. The stock has a market capitalization of $26.54 billion, a PE ratio of 18.89, a P/E/G ratio of 2.41 and a beta of 0.49. 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 fifty day moving average of $130.43 and a 200 day moving average of $125.67. DTE Energy has a one year low of $103.06 and a one year high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last announced its 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 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued 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 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.