62,641 Shares in DTE Energy (NYSE:DTE) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of DTE Energy (NYSE:DTE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,641 shares of the utilities provider's stock, valued at approximately $7,569,000.

Several other large investors have also recently added to or reduced their stakes in the company. SkyOak Wealth LLC lifted its position in shares of DTE Energy by 4.1% in the 4th quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider's stock worth $262,000 after buying an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in DTE Energy by 8.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider's stock worth $146,000 after acquiring an additional 90 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in DTE Energy by 4.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider's stock valued at $258,000 after acquiring an additional 92 shares during the period. Tidal Investments LLC grew its holdings in shares of DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider's stock valued at $320,000 after purchasing an additional 96 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of DTE Energy by 2.3% during the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider's stock valued at $525,000 after purchasing an additional 96 shares during the last quarter. 76.06% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $132.40, for a total value of $935,008.80. Following the transaction, the senior vice president now owns 14,067 shares of the company's stock, valued at approximately $1,862,470.80. This trade represents a 33.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 directly owns 6,951 shares of the company's stock, valued at $900,571.56. This represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.33% of the stock is owned by insiders.

DTE Energy Price Performance

Shares of DTE stock traded up $0.84 during mid-day trading on Friday, hitting $129.59. 2,031,550 shares of the stock traded hands, compared to its average volume of 1,183,542. DTE Energy has a twelve month low of $103.06 and a twelve month high of $140.39. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. The company's 50-day simple moving average is $131.68 and its 200-day simple moving average is $125.84. The firm has a market cap of $26.89 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49.

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 for the quarter, beating the consensus estimate 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 expect that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The firm 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. This represents a $4.36 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, March 17th. DTE Energy's payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DTE. BMO Capital Markets upped their price objective on DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Morgan Stanley increased their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Barclays lowered shares of DTE Energy from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $137.00 to $135.00 in a research note on Thursday, February 20th. StockNews.com upgraded shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Guggenheim boosted their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, DTE Energy has an average rating of "Moderate Buy" and an average target price of $138.58.

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.