South Dakota Investment Council Acquires Shares of 3,600 DTE Energy (NYSE:DTE)

South Dakota Investment Council bought a new position in shares of DTE Energy (NYSE:DTE) in the 4th quarter, Holdings Channel reports. The fund bought 3,600 shares of the utilities provider’s stock, valued at approximately $435,000.

Several other hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in DTE Energy by 2.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,588 shares of the utilities provider’s stock valued at $461,000 after buying an additional 81 shares during the period. SkyOak Wealth LLC boosted its holdings in shares of DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 85 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of DTE Energy by 4.5% during the fourth 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 during the period. Tidal Investments LLC raised its holdings in DTE Energy by 4.0% during the third quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 96 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in DTE Energy by 2.3% in the fourth quarter. Bleakley Financial Group LLC now owns 4,345 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays cut DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $137.00 to $135.00 in a research report on Thursday, February 20th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets raised their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report 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. Finally, UBS Group upgraded shares of DTE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $129.00 to $143.00 in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, DTE Energy has an average rating of “Moderate Buy” and a consensus target price of $135.67.

Insider Transactions at DTE Energy

In other DTE Energy news, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 $900,571.56. The trade was a 35.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value 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 $446,535.04. The trade was a 22.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

DTE Energy Price Performance

DTE stock opened at $132.33 on Tuesday. The stock’s 50 day moving average price is $122.37 and its 200 day moving average price is $123.50. The firm has a market cap of $27.42 billion, a P/E ratio of 19.55, a PEG ratio of 2.41 and a beta of 0.68. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.46 and a current ratio of 0.71. DTE Energy has a 1 year low of $103.06 and a 1 year high of $133.45.

DTE Energy (NYSE:DTE) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating 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, sell-side analysts expect that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Monday, March 17th. DTE Energy’s dividend payout ratio is currently 64.40%.

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.