Neuberger Berman Group LLC Reduces Stock Holdings in DTE Energy (NYSE:DTE)

Neuberger Berman Group LLC cut its holdings in shares of DTE Energy (NYSE:DTE - Free Report) by 54.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,163,197 shares of the utilities provider's stock after selling 1,367,039 shares during the period. Neuberger Berman Group LLC owned 0.56% of DTE Energy worth $140,432,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP lifted its position in shares of DTE Energy by 33.9% during the third quarter. Quantinno Capital Management LP now owns 18,994 shares of the utilities provider's stock valued at $2,439,000 after buying an additional 4,813 shares during the last quarter. Stifel Financial Corp boosted its stake in DTE Energy by 17.3% in the third quarter. Stifel Financial Corp now owns 89,703 shares of the utilities provider's stock valued at $11,519,000 after acquiring an additional 13,229 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in DTE Energy by 55.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 11,217 shares of the utilities provider's stock worth $1,440,000 after purchasing an additional 4,019 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in DTE Energy by 73.6% in the third quarter. EP Wealth Advisors LLC now owns 3,150 shares of the utilities provider's stock worth $404,000 after purchasing an additional 1,336 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of DTE Energy during the third quarter worth $249,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at DTE Energy

In related news, COO Matthew T. Paul sold 3,801 shares of the business'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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the stock in a transaction dated 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 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 11,877 shares of company stock valued at $1,559,205 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

DTE Energy Stock Performance

DTE traded up $0.14 on Tuesday, reaching $133.33. The stock had a trading volume of 571,127 shares, compared to its average volume of 1,182,094. The business's 50-day moving average price is $131.89 and its two-hundred day moving average price is $125.88. The company has a market cap of $27.67 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. DTE Energy has a 12-month low of $103.06 and a 12-month high of $140.39. 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 (NYSE:DTE - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that DTE Energy will post 7.18 earnings per share for the current 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 issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DTE. Barclays cut 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. Morgan Stanley lifted their target price on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. BMO Capital Markets raised their price target 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. Guggenheim upped their target price on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, StockNews.com raised DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 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, the stock has an average rating of "Moderate Buy" and an average price target of $138.58.

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.