Polymer Capital Management US LLC Purchases Shares of 110,000 DTE Energy (NYSE:DTE)

Polymer Capital Management US LLC acquired a new position in shares of DTE Energy (NYSE:DTE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 110,000 shares of the utilities provider’s stock, valued at approximately $13,282,000. DTE Energy makes up about 3.6% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 3rd biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. SkyOak Wealth LLC lifted its position in DTE Energy by 4.1% in the fourth quarter. SkyOak Wealth LLC now owns 2,174 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 85 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of DTE Energy by 8.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,205 shares of the utilities provider’s stock worth $146,000 after acquiring an additional 90 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of DTE Energy by 4.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,139 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 92 shares in the last quarter. Tidal Investments LLC boosted its position in shares of DTE Energy by 4.0% during the 3rd quarter. Tidal Investments LLC now owns 2,490 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 96 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake 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 acquiring an additional 96 shares during the period. 76.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DTE shares. BMO Capital Markets lifted their price objective on DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Guggenheim upped their price target on DTE Energy from $139.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Scotiabank lifted their price objective on 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 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. Finally, Barclays downgraded shares of DTE Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $137.00 to $135.00 in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.58.

DTE Energy Trading Down 5.5 %

DTE opened at $131.85 on Monday. DTE Energy has a 1-year low of $103.06 and a 1-year high of $140.39. The firm has a 50-day moving average price of $130.43 and a two-hundred day moving average price of $125.67. The stock has a market capitalization of $27.36 billion, a PE ratio of 19.47, a PEG ratio of 2.41 and a beta of 0.49. 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) last issued its quarterly earnings results 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%. As a group, equities analysts anticipate that DTE Energy will post 7.18 earnings per share for the current fiscal year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $1.09 dividend. This represents a $4.36 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is 64.40%.

Insiders Place Their Bets

In other news, CAO Tracy J. Myrick sold 1,014 shares of DTE Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total transaction of $131,738.88. Following the completion of the sale, the chief accounting officer now owns 3,437 shares in the company, valued at $446,535.04. The trade was a 22.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Matthew T. Paul sold 3,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $129.56, for a total transaction of $492,457.56. Following the sale, the chief operating officer now directly owns 6,951 shares of the company’s stock, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,877 shares of company stock valued at $1,559,205. 0.33% of the stock is currently owned by insiders.

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.