Victory Capital Management Inc. Reduces Holdings in DTE Energy (NYSE:DTE)

Victory Capital Management Inc. reduced its stake in shares of DTE Energy (NYSE:DTE - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 390,419 shares of the utilities provider's stock after selling 15,886 shares during the quarter. Victory Capital Management Inc. owned 0.19% of DTE Energy worth $47,143,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in DTE Energy by 6.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 43,469 shares of the utilities provider's stock worth $5,582,000 after purchasing an additional 2,548 shares during the period. Van ECK Associates Corp purchased a new position in shares of DTE Energy in the third quarter worth $268,000. Robeco Institutional Asset Management B.V. bought a new stake in DTE Energy during the 3rd quarter valued at $1,393,000. Principal Financial Group Inc. boosted its position in DTE Energy by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 261,357 shares of the utilities provider's stock valued at $33,561,000 after buying an additional 13,953 shares during the period. Finally, Applied Finance Capital Management LLC grew its holdings in DTE Energy by 1.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 172,442 shares of the utilities provider's stock worth $22,143,000 after acquiring an additional 2,872 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company's stock.

Insiders Place Their Bets

In other news, SVP Joann Chavez sold 7,062 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $1,862,470.80. The trade was a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the 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 owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,877 shares of company stock valued at $1,559,205. Corporate insiders own 0.28% of the company's stock.

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DTE Energy Stock Down 0.7 %

NYSE:DTE traded down $0.89 during trading hours on Wednesday, reaching $131.14. 552,685 shares of the company traded hands, compared to its average volume of 1,083,482. 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 business's 50-day moving average price is $125.06 and its two-hundred day moving average price is $124.29. DTE Energy has a 1 year low of $103.06 and a 1 year high of $136.28. The stock has a market capitalization of $27.18 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share 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%. Analysts predict that DTE Energy will post 7.18 earnings per share for the current year.

DTE Energy Dividend Announcement

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 given a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 annualized dividend and a yield of 3.32%. DTE Energy's dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DTE shares. UBS Group upgraded shares of DTE Energy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $129.00 to $143.00 in a report on Tuesday, December 3rd. Scotiabank increased their price objective on DTE Energy from $137.00 to $147.00 and gave the stock a "sector outperform" rating in a report on Thursday, December 12th. KeyCorp cut DTE Energy from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their price target 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. Finally, StockNews.com raised shares of DTE Energy from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, DTE Energy has an average rating of "Moderate Buy" and a consensus target price of $135.67.

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.