Trexquant Investment LP Invests $9.63 Million in DTE Energy (NYSE:DTE)

Trexquant Investment LP acquired a new position in DTE Energy (NYSE:DTE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 79,738 shares of the utilities provider's stock, valued at approximately $9,628,000.

Several other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in DTE Energy in the 3rd quarter worth about $30,000. Versant Capital Management Inc increased its position in shares of DTE Energy by 890.0% in 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 in the last quarter. Robbins Farley acquired a new position in shares of DTE Energy during the 4th quarter worth approximately $57,000. Kestra Investment Management LLC purchased a new position in shares of DTE Energy during the 4th quarter valued at approximately $57,000. Finally, AdvisorNet Financial Inc grew its stake in DTE Energy by 81.5% in the 4th quarter. AdvisorNet Financial Inc now owns 697 shares of the utilities provider's stock valued at $84,000 after acquiring an additional 313 shares during the period. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DTE Energy

In other news, COO Matthew T. Paul sold 3,801 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total transaction of $492,457.56. Following the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joann Chavez sold 7,062 shares of DTE Energy stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the completion of the transaction, the senior vice president now directly owns 14,067 shares in the company, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,877 shares of company stock valued at $1,559,205 over the last ninety days. Insiders own 0.33% of the company's stock.

Remove Ads

DTE Energy Stock Down 3.6 %

DTE traded down $4.68 on Monday, hitting $127.12. 632,624 shares of the company were exchanged, compared to its average volume of 1,167,752. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The company has a market cap of $26.38 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. The firm has a 50-day moving average price of $130.43 and a two-hundred day moving average price of $125.67. DTE Energy has a twelve month low of $103.06 and a twelve month high of $140.39.

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 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%. On average, equities analysts predict 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. Investors of record on Monday, March 17th will be paid a dividend of $1.09 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.43%. DTE Energy's dividend payout ratio is currently 64.40%.

Analyst Ratings Changes

A number of analysts have recently commented on DTE shares. Barclays cut shares of DTE Energy from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. Morgan Stanley upped their target price 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. BMO Capital Markets raised their price target on shares of DTE Energy from $125.00 to $135.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Scotiabank boosted their target price 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.58.

DTE Energy 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.