O Shaughnessy Asset Management LLC Purchases 7,341 Shares of DTE Energy (NYSE:DTE)

O Shaughnessy Asset Management LLC raised its position in shares of DTE Energy (NYSE:DTE - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,734 shares of the utilities provider's stock after purchasing an additional 7,341 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in DTE Energy were worth $5,885,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. ClearBridge Investments Ltd lifted its holdings in shares of DTE Energy by 10.1% in the fourth quarter. ClearBridge Investments Ltd now owns 598,401 shares of the utilities provider's stock valued at $72,257,000 after buying an additional 55,071 shares during the period. CIBC Private Wealth Group LLC raised its position in DTE Energy by 517.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 58,400 shares of the utilities provider's stock worth $7,067,000 after acquiring an additional 48,936 shares in the last quarter. Schroder Investment Management Group lifted its holdings in DTE Energy by 42.3% in the 4th quarter. Schroder Investment Management Group now owns 34,928 shares of the utilities provider's stock valued at $4,211,000 after acquiring an additional 10,384 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of DTE Energy by 0.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 101,451 shares of the utilities provider's stock valued at $12,250,000 after purchasing an additional 655 shares in the last quarter. Finally, Intrust Bank NA boosted its position in shares of DTE Energy by 2.5% during the 4th quarter. Intrust Bank NA now owns 8,329 shares of the utilities provider's stock valued at $1,006,000 after purchasing an additional 207 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling

In related news, CAO Tracy J. Myrick sold 1,014 shares of the firm's 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 transaction, the chief accounting officer now owns 3,437 shares of the company's stock, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction that occurred on 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 $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,877 shares of company stock worth $1,559,205. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Barclays downgraded DTE Energy from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $137.00 to $135.00 in a research report on Thursday, February 20th. Guggenheim lifted their target price on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, March 21st. BMO Capital Markets upped their target price on DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Finally, Scotiabank lifted their price target on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $138.58.

DTE Energy Stock Down 5.5 %

NYSE DTE traded down $7.65 during trading on Friday, reaching $131.85. 1,732,004 shares of the company's stock were exchanged, compared to its average volume of 1,169,727. The firm has a market capitalization of $27.36 billion, a PE ratio of 19.47, a P/E/G ratio of 2.41 and a beta of 0.49. DTE Energy has a fifty-two week low of $103.06 and a fifty-two week 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. The company's fifty day simple moving average is $130.43 and its 200-day simple moving average is $125.67.

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

DTE Energy Dividend Announcement

The business also recently declared 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 3.31%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

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.