Vestcor Inc Sells 3,110 Shares of DTE Energy (NYSE:DTE)

Vestcor Inc lessened its holdings in DTE Energy (NYSE:DTE - Free Report) by 45.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,702 shares of the utilities provider's stock after selling 3,110 shares during the quarter. Vestcor Inc's holdings in DTE Energy were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DTE. Oppenheimer Asset Management Inc. boosted its stake in DTE Energy by 4.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,747 shares of the utilities provider's stock worth $738,000 after acquiring an additional 262 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of DTE Energy by 1.9% during the third quarter. Metis Global Partners LLC now owns 6,633 shares of the utilities provider's stock worth $852,000 after purchasing an additional 126 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of DTE Energy by 9.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,362 shares of the utilities provider's stock worth $560,000 after purchasing an additional 367 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of DTE Energy by 7.0% in the 3rd quarter. CIBC Asset Management Inc now owns 35,170 shares of the utilities provider's stock valued at $4,516,000 after buying an additional 2,309 shares during the period. Finally, Empowered Funds LLC increased its position in shares of DTE Energy by 9.3% in the 3rd quarter. Empowered Funds LLC now owns 3,028 shares of the utilities provider's stock valued at $389,000 after buying an additional 258 shares in the last quarter. Institutional investors own 76.06% of the company's stock.

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Insiders Place Their Bets

In related news, SVP Joann Chavez sold 7,062 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total transaction of $935,008.80. Following the transaction, the senior vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total transaction of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock worth $1,559,205 in the last 90 days. Company insiders own 0.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Scotiabank boosted their target price on DTE Energy from $137.00 to $147.00 and gave the company a "sector outperform" rating in a research note on Thursday, December 12th. Morgan Stanley raised their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. BMO Capital Markets raised their target price on shares of DTE Energy from $125.00 to $135.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Finally, KeyCorp cut shares of DTE Energy from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.58.

DTE Energy Stock Performance

Shares of NYSE:DTE traded up $0.24 on Friday, hitting $137.18. The company had a trading volume of 3,715,977 shares, compared to its average volume of 1,093,282. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.41 and a beta of 0.59. The stock has a 50 day moving average price of $127.02 and a 200 day moving average price of $124.79. DTE Energy has a 1-year low of $103.06 and a 1-year high of $137.76. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly 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 net margin of 11.27% and a return on equity of 12.42%. Analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 3.18%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy's dividend payout ratio is 64.40%.

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.