Amalgamated Bank Sells 743 Shares of DTE Energy (NYSE:DTE)

Amalgamated Bank cut its holdings in DTE Energy (NYSE:DTE) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,919 shares of the utilities provider’s stock after selling 743 shares during the quarter. Amalgamated Bank’s holdings in DTE Energy were worth $4,820,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DTE. Assenagon Asset Management S.A. grew its stake in shares of DTE Energy by 2.2% during the third quarter. Assenagon Asset Management S.A. now owns 6,550 shares of the utilities provider’s stock worth $841,000 after purchasing an additional 143 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DTE Energy by 47.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,416 shares of the utilities provider’s stock worth $1,709,000 after buying an additional 4,340 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of DTE Energy by 2.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,657 shares of the utilities provider’s stock worth $2,267,000 after buying an additional 394 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of DTE Energy in the 3rd quarter valued at about $210,000. Finally, abrdn plc raised its position in shares of DTE Energy by 36.8% in the 3rd quarter. abrdn plc now owns 76,361 shares of the utilities provider’s stock valued at $9,777,000 after acquiring an additional 20,524 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $132.40, for a total value 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 approximately $1,862,470.80. This trade represents a 33.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tracy J. Myrick sold 1,014 shares of the business’s stock in a transaction 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 owns 3,437 shares in the company, valued at approximately $446,535.04. The trade was 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 valued at $1,559,205 in the last 90 days. 0.61% of the stock is currently owned by insiders.

DTE Energy Price Performance

NYSE DTE opened at $132.09 on Friday. The firm’s 50 day moving average is $123.20 and its 200-day moving average is $123.71. 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 company has a market capitalization of $27.37 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. DTE Energy has a 12-month low of $103.06 and a 12-month high of $133.49.

DTE Energy (NYSE:DTE) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping 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%. Equities research analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a yield of 3.30%. DTE Energy’s dividend payout ratio is 64.40%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTE. Scotiabank boosted their price objective on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley lowered their price objective on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays downgraded DTE Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $137.00 to $135.00 in a research note on Thursday, February 20th. BMO Capital Markets boosted their target price on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Finally, UBS Group raised DTE Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.