DTE Energy (NYSE:DTE) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in DTE Energy (NYSE:DTE - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,131 shares of the utilities provider's stock after buying an additional 13,759 shares during the quarter. Russell Investments Group Ltd.'s holdings in DTE Energy were worth $12,091,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in DTE Energy by 4.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 157,069 shares of the utilities provider's stock worth $18,966,000 after purchasing an additional 5,969 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in DTE Energy during the fourth quarter worth $7,569,000. Wells Fargo & Company MN grew its position in DTE Energy by 13.4% during the fourth quarter. Wells Fargo & Company MN now owns 239,865 shares of the utilities provider's stock valued at $28,964,000 after buying an additional 28,410 shares during the period. World Investment Advisors increased its holdings in DTE Energy by 20.7% in the fourth quarter. World Investment Advisors now owns 2,524 shares of the utilities provider's stock valued at $305,000 after buying an additional 432 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new position in shares of DTE Energy in the fourth quarter worth about $9,163,000. Hedge funds and other institutional investors own 76.06% of the company's stock.

Analyst Upgrades and Downgrades

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

Remove Ads

DTE Energy Price Performance

DTE traded up $0.14 during trading on Tuesday, reaching $133.33. The company's stock had a trading volume of 744,250 shares, compared to its average volume of 1,182,754. The company has a quick ratio of 0.46, a current ratio of 0.71 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $131.89 and a two-hundred day simple moving average of $125.88. The company has a market cap of $27.67 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.41 and a beta of 0.49. DTE Energy has a 1 year low of $103.06 and a 1 year high of $140.39.

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 return on equity of 12.42% and a net margin of 11.27%. As a group, analysts anticipate that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Monday, March 17th. DTE Energy's dividend payout ratio is presently 64.40%.

Insider Buying and Selling

In related news, CAO Tracy J. Myrick sold 1,014 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now directly owns 3,437 shares of the company's stock, valued at approximately $446,535.04. This trade 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 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 completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, 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 sold 11,877 shares of company stock worth $1,559,205. Company insiders own 0.33% of the company's stock.

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.