Proficio Capital Partners LLC Acquires New Stake in DTE Energy (NYSE:DTE)

Proficio Capital Partners LLC acquired a new position in shares of DTE Energy (NYSE:DTE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,527 shares of the utilities provider's stock, valued at approximately $11,414,000.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in DTE Energy in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in shares of DTE Energy in the third quarter valued at approximately $35,000. Versant Capital Management Inc boosted its position in shares of DTE Energy by 890.0% during the fourth quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider's stock valued at $36,000 after buying an additional 267 shares during the last quarter. Coastline Trust Co bought a new stake in DTE Energy during the third quarter worth $39,000. Finally, Robbins Farley bought a new stake in DTE Energy during the fourth quarter worth $57,000. 76.06% of the stock is owned by institutional investors.

DTE Energy Stock Performance

Shares of DTE stock traded up $1.89 on Monday, hitting $136.06. 495,374 shares of the stock were exchanged, compared to its average volume of 1,076,472. The firm's 50 day moving average is $125.78 and its two-hundred day moving average is $124.47. DTE Energy has a one year low of $103.06 and a one year high of $136.28. The firm has a market capitalization of $28.20 billion, a PE ratio of 20.12, a P/E/G ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

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DTE Energy (NYSE:DTE - Get Free Report) last issued its 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 net margin of 11.27% and a return on equity of 12.42%. Sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The firm also recently announced 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. 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 3.20%. DTE Energy's payout ratio is 64.40%.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total transaction of $935,008.80. Following the sale, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 11,877 shares of company stock worth $1,559,205 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DTE shares. Guggenheim raised shares of DTE Energy from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Barclays downgraded shares of DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. KeyCorp cut shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. UBS Group raised DTE Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $129.00 to $143.00 in a report on Tuesday, December 3rd. 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 report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, DTE Energy presently has an average rating of "Moderate Buy" and an average target price of $137.09.

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.