Pictet Asset Management Holding SA Sells 251,457 Shares of DTE Energy (NYSE:DTE)

Pictet Asset Management Holding SA trimmed its position in DTE Energy (NYSE:DTE - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,745,347 shares of the utilities provider's stock after selling 251,457 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.84% of DTE Energy worth $210,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in DTE Energy by 16.0% in the fourth quarter. Allworth Financial LP now owns 2,438 shares of the utilities provider's stock valued at $293,000 after acquiring an additional 336 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of DTE Energy by 72.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,295 shares of the utilities provider's stock worth $760,000 after purchasing an additional 2,642 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of DTE Energy by 2,235.2% during the fourth quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider's stock worth $26,706,000 after purchasing an additional 211,763 shares during the period. Patton Albertson Miller Group LLC increased its holdings in DTE Energy by 7.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 46,931 shares of the utilities provider's stock valued at $5,667,000 after purchasing an additional 3,306 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in DTE Energy by 4.4% in the fourth quarter. M&T Bank Corp now owns 9,432 shares of the utilities provider's stock valued at $1,139,000 after buying an additional 395 shares during the period. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages have recently commented on DTE. Morgan Stanley upped their price target on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. UBS Group upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $129.00 to $143.00 in a research report on Tuesday, December 3rd. BMO Capital Markets lifted their target price on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. KeyCorp downgraded DTE Energy from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 4th. Finally, Scotiabank raised their price target on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $138.58.

DTE Energy Stock Down 0.1 %

DTE stock traded down $0.10 during midday trading on Wednesday, hitting $137.82. The company's stock had a trading volume of 229,079 shares, compared to its average volume of 1,287,817. The company's fifty day moving average price is $129.42 and its 200 day moving average price is $125.44. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.71 and a quick ratio of 0.46. DTE Energy has a twelve month low of $103.06 and a twelve month high of $139.05. The stock has a market capitalization of $28.60 billion, a P/E ratio of 20.36, a PEG ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (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%. As a group, equities research analysts predict that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.16%. DTE Energy's payout ratio is 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.