Summit Global Investments Trims Stake in DTE Energy (NYSE:DTE)

Summit Global Investments cut its stake in DTE Energy (NYSE:DTE - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,436 shares of the utilities provider's stock after selling 12,939 shares during the quarter. Summit Global Investments' holdings in DTE Energy were worth $2,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. SkyOak Wealth LLC grew its holdings in DTE Energy by 4.1% during the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider's stock worth $262,000 after buying an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of DTE Energy by 8.1% in the 4th 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 in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of DTE Energy by 4.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider's stock worth $258,000 after acquiring an additional 92 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of DTE Energy by 4.0% in 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 boosted its holdings in DTE Energy by 2.3% during the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider's stock worth $525,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 76.06% of the company's stock.

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DTE Energy Stock Performance

DTE traded up $1.05 during trading hours on Wednesday, hitting $135.55. The stock had a trading volume of 1,773,771 shares, compared to its average volume of 1,096,155. 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 stock has a market cap of $28.13 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. DTE Energy has a 1 year low of $103.06 and a 1 year high of $138.22. The company's fifty day simple moving average is $128.04 and its 200 day simple moving average is $125.03.

DTE Energy (NYSE:DTE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, beating 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%. Equities analysts anticipate that DTE Energy will post 7.18 earnings per share 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 given a $1.09 dividend. This represents a $4.36 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, March 17th. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

Insider Activity at DTE Energy

In other 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 value of $131,738.88. Following the completion of the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at approximately $446,535.04. This trade represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joann Chavez sold 7,062 shares of the company's stock in a transaction that occurred on 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 trade represents a 33.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,877 shares of company stock worth $1,559,205. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DTE has been the subject of several analyst reports. BMO Capital Markets increased their price objective on shares of DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Guggenheim upped their target price on DTE Energy from $139.00 to $147.00 and gave the company a "buy" rating in a report on Friday, March 21st. KeyCorp lowered DTE Energy from an "overweight" rating to a "sector weight" rating in a report on Wednesday, December 4th. Morgan Stanley upped their price objective on DTE Energy from $131.00 to $136.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Barclays cut DTE Energy from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Five equities research 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, DTE Energy currently has an average rating of "Moderate Buy" and a consensus price target 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.